Preheat your oven to 400°F.
In a large bowl, combine ground beef, ground pork, breadcrumbs, Parmesan cheese, parsley, onion, garlic, egg, salt, pepper, nutmeg, and allspice. Mix until well combined.
Form the mixture into 1-inch meatballs and place them on a baking sheet. Bake for 20 minutes or until cooked through.
In a large skillet, heat olive oil and butter over medium heat. Once melted, add the beef broth, heavy cream, and soy sauce. Stir to combine and bring to a simmer.
If you prefer a thicker gravy, add the cornstarch mixture and stir until the gravy thickens.
Add the baked meatballs to the skillet and simmer for an additional 5 minutes, allowing them to soak up the gravy.
Serve the meatballs warm, garnished with additional parsley if desired.