I guess it depends on what your urban cutting tasks require and how the people in your area respond to knives. Both will be typical Spyderco quality as far as design, execution, and F&F.
The Caly 3 is a bit less conspicuous in use because it's somewhat smaller. It's also a little more comfortable pocket carry for me. I like G10 scales and I really like VG10 blades, especially flat ground ones. The Sage is a bit larger with a little more belly to the blade (even though it's about the same length as the Caly 3). The F&F on my Sage is flawless and the bubbled carbon fiber is my favorite version of that material. I also really like open construction knives, so the Sage comes in +1 in that category. S30V is a fine blade steel for a 3" folding knife, probably my favorite overall, and nobody does it better than Spyderco.
I have both and carry both. I guess if I were using it strictly as a general EDC and I just gave it occasional 'round town' use, I'd get the Sage because of it's upgraded looks with the CF scales and open construction. If there was a chance I'd need a "down and dirty" little beast that was far more capable than it looked, I get the Caly 3.