Cole Haan Leases Pricey Plot of Prince Street

breakscolehaan Cole Haan Leases Pricey Plot of Prince StreetCole Haan, purveyor of recessionary necessities like the $12,000 brown Alligator tote and the more reasonably priced $525 Denney bag, has signed a lease for around 1,600 square feet at 130 Prince Street.

What a time to open a luxury retail outlet!

According to sources, the deal, closed in September and until now kept under wraps, was in the $700s a square foot annually. “This deal broke records,” said a source.

Why so high?

Well, once it opens midyear 2009, the Cole Haan boutique, between Wooster Street and West Broadway, will stand down the block from the well-trafficked Apple Store and neighboring Coach store.

Cushman & Wakefield retail broker Joanne Podell represented Cole Haan in the transaction. Cushman & Wakefield’s David Green and Brad Mendelson represented the landlord.

drubinstein@observer.com