Season the steak with salt and pepper and let sit at room temperature for 30 minutes before grilling.
In a small pot, combine the olive oil, garlic, both paprikas, rosemary, thyme and sage. Bring to a light simmer over low heat and cook until the garlic and herbs become very fragrant, 7 to 9 minutes. Remove from the heat and let cool.
Prepare a charcoal or gas grill for high heat. Once hot, rub the steak with 2 to 3 tablespoons canola oil, place on the grill and cook undisturbed until deeply browned and a crust has formed on the bottom, about 7 minutes. Turn steak and cook the other side until browned, about 5 to 7 minutes longer, or until an instant-read thermometer stuck into the thickest part away from the bone reads 135ºF. Transfer to a cutting board, tent with foil and let rest until the internal temperature reaches 145ºF, about 10 minutes . Meanwhile, place the shallot on the grill and cook until softened and lightly charred, turning occasionally.
Transfer the shallot to the cutting board and finely chop. Stir it into the pot with the garlic mixture. Stir in the parsley and vinegar. Taste and season with salt and pepper.
When ready to serve, slice the steak thinly against the grain, transfer to a platter and spoon the chimichurri over the top.