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A piece of the onetime summer home of Margaret Olivia Slocum Sage has recently come on the market. For those unfamiliar with the name, a quick history lesson: Upon the death of her husband, Russel Sage, in 1906, Mrs. Sage inherited an estimated $50M. She used the money to make donations to Syracuse University, Yale, Princeton, Cornell, Vassar, and Rensselaer Polytechnic Institute, as well as founding Russell Sage College. As for Sag Harbor, her contributions included the John Jermain Library, Pierson High School and Mashashamuet Park. To say that Mrs. Sage’s roots run deep in the Southampton hamlet would be an understatement. In fact, her former Main Street home is now the Sag Harbor Whaling Museum.
However, this particular part of it:
“…was moved by horses to 28 Palmer Terrace in 1910 and its original foundation was dissembled and rebuilt on its current location. A significant addition was added in 1910 creating a secret staircase and bedroom still present today. In 2001 another addition offering a beautiful large first floor master, a solarium style living room and a 2 car garage.”
It now weighs in at a not insubstantial 3200 sq. ft. The four-bedroom hit the market at the end of December with an ask of $1.995M which was reduced to $1.795M just yesterday. While the the lot is a little less than .30 acres, residences in the village of Sag Harbor aren’t usually known for their size. Anyway, this home’s provenance should more than make up for that, no?
· Listing: 38 Palmer Terrace [Corcoran]
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