Kenneth Cole to Pay More Than $1 Million Per Year for Bowery Store

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A long-empty corner retail spot has just been filled. Bowery Boogie reports that Kenneth Cole has signed on for a ten-year lease at 328 Bowery, on the corner of Bond Street. It'll be bumping up against the Curve boutique and just a few short steps away from Intermix and Patricia Field.

The neighborhood blog reports that the ground level has 2,500 square feet of space, while the basement has about $1,600—and at $300 per square foot, that's a $100,000 rent check that Cole will have to write out each month.

Still, that's probably cheaper than the store the brand maintains on Broadway's northern edge of Soho, which has some of the city's most exorbitant retail rents off of Fifth Avenue. No word on whether they'll keep both of these stores (there's one at Grand Central, too) or when this location will open.