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Storefronting Breaking Update: Kors In, Jerry's Out

During a week in which New York food institutions just keep making news, add another log to the fire: Soho stalwart Jerry's, serving up comfort food on Prince Street since 1987, will soon be no more. Today's WWD reports that designer Michael Kors is taking over the space by spring 2008 to open a "concept store" featuring goods from all his lines. For those without WWD subscription access, we've pasted some more details after the jump; for those who will miss Jerry's, head over to Eater, where mourning is in full swing.
· Kors to Open Soho Store [WWD]
· Crisis Reverted: Jerry's Shuttering [Eater]

From the WWD article:

When Kors opens on Prince Street between Mer­cer and Greene Streets, it will join one of the most popular blocks in SoHo and neighbors Miu Miu, J. Crew, Apple and Intermix. "The store is wedged between Apple and the Mercer Hotel," said a retail broker who wasn't involved with the deal. "You can't beat that location. Prince Street has a certain allure." "Clearly, SoHo is a very highly desirable neighborhood, especially that block," a Kors spokesman said, noting the store will have about 2,000 square feet of space...

The spokesman said accessories account for about 70 to 75 percent of the mix at the lifestyle units, which change their theme every six weeks. The store cross-merchandises the three Kors lines by trend rather than tier, and retail prices range from $24.50 for a tank top to $12,000 for a crocodile handbag. Michael Neumann, the architect who designed the other lifestyle stores, will create the interior of the SoHo unit.