New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1920-01-04
Sage Auction
To Be Held
This Month
Proceeds From Sale Of
Extensive Real Estate
Holdings To Be Given
to Colleges and Charities

The first big auction sale this year,
and one OF the largest ever held in
the Vesey Street salesroom, will take
place ON Tuesday, January 20, when
the valuable New York City properties
owned by the late Mrs. Margaret Olivia
Slocum Sage, wife Of the late Russell
Sage, financier, will be offered to the
highest bidder.
Mrs. Sage. under the terms Of her
will, left the entire residue Of her es-
tate to be divided among thirty-six
institutions. The residuary estate.
which is estimated to be worth s4O.-
100000, is to be divided into fifty-two
shares and distributed in varying pro-
portions among the institutions named
in the will. The Sage Foundation will
receive seven of the fifty-two shares.
Colleges to Share
The institutions that will be bene-
fitted from the sale are:
The Sage Foundation, Women's Hos
pital in the State of New York,
Women's Board of Foreign Missions of
the Presbyterian Church. the State
Charities Aid Association, New York
Presbyterian Hospital, New York In
Urinary for Women and Children, New
YORK Bible, Society, New York Public
Library, New York Botanical Garden,
New York University, Yale, Princeton,
Williams College, Amherst, Dartmouth
Barnard, Vassar, Wellesley, Smith,
sity, Hamilton College, Clinton, N. Y;
Troy Polytechnic Institute, Union Col
lego, Schenectady; Troy Female Semi
nary, Hampton Institute, Tuskegee
Normal and Industrial Institute. Board
Of Home Missions of the Presbyterian
Church in the United States of Amer
lea (women's executive committee)
Presbyterian Board Of Relief for Dis
abled Ministers and the Widows and
Orphans Of Deceased Ministers, Chill
dren's Aid Society, Charity Organiza-
ton Society, American Bible Society,
metropolitan Museum Of Art, American
Museum Of Natural History and New
York City Mission and Tract Society.
The properties to be sold are located
in some Of New, York's principal thor
oughfares, including Fifth Avenue, Park
Avenue. Madison Avenue, Lexington
Avenue, Riverside Drive, Central Park
West and West 12bth Street. In addi-
ton there are a number Of parcels
located in various side streets on the
East and West sides. The properties
embrace business buildings, elevator
apartment houses and one Of the most
valuable block fronts in Riverside
Drive now available for Improvement.
Several valuable corners and resi-
dences in Long Island City and in
Rockaway and private dwellings in
Cedarhurst, l.. l., are included In the
sale.
Ons Of the Fifth Avenue properties
is the eleven-story loft building at
70 Fifth Avenue, northeast corner of
Fifteenth Street; another the former
residence Of Mrs. Sage, at 604 Fifth
Avenue, q xour-story and basement
brick. dwelling, on plot 8ox100, and
the leasehold property. 6ve-story
elevator building, at 632 Fifth Ave-
nue., opposite the Cathedral. Other
offerings. are the Ave dwellings, at
nue. and Sixty fourth Street: tho Va
cant block front in Riverside Drive.
from 1O9th to 10th street; the two ele-
vator apartments at 422 and 424 Cen
trail Park West, northwest corner Of
1929 Street; the five-story apartments
at the southeast corner Of Park Ave-
nue and Ninety-eighth Street and the
i've five-story apartments at the north
west corner Of Lexington Avenue and
lOOth Street; two store tenements at
46 and AZ West 125th Street, between
Fl1th and Lenox avenues; the six FIVE
story dwellings at 11S, liz, lit. 12e
III West Fifty-fourth Street, a garage,
Ninety-third Street, q five-story fat:
~ West Fifty-fourth Street, q garage;
616 and SIT West Seventy-sixth Street
between Avenue A and John Law
Park. 60-foot vacant plot: lO0. 107
and 100 East Tooth Street. and three
five-story tenements, between Park and
Lexington avenues.
Good Speculative Property
"The Sage estate sale,'. Mr.. Day said
( yesterday, as tho first big and impor-
tant offering Of the year 1920. The
sale, to carry out the magnificent be-
guests made by the late Mrs. Russell
Sage. will benefit many OF the most
prominent educational and charitable
institutions in America, and reflects the
fine character and tho kindly heart Of
Americas most noble and philanthropic
woman.
"In view Of the character Of tho late
Mrs. Sage, 1t Ia highly probable that
shc INDUCED in az little rent raising
as possible. 1t is altogether likely that
the properties to be sold are rented ut
the present time for less than half
their market value. This, Of course. is
the sort Of opportunity tile Spectator
in real estate thoroughly appreciates
and the outlook, therefore, 10 Tor active
bidding on the day Of sale, especially
~ estate properties not dealt IA for Z
long term OF years are eenoFn1Iy con.
eeded % b. the spIuMA AZ ~ vool -.