The brand synonymous with New York has taken a piece of prime real estate.

DKNY has entered into a multifaceted, long-term sponsorship agreement with the New York Yankees, getting a coveted outfield billboard in return. It will be the first fashion brand to have a permanent presence in the form of an outfield billboard and will serve as the title sponsor of the dugout lounge, located in the third-baseline Champions Suite seating section.

"Donna Karan created DKNY to capture the spirit of New York and the people who live here, including the most successful baseball team in history, the Yankees," Mark Weber, chairman and CEO of Donna Karan International, said in a release.

"This unique sponsorship gives DKNY a direct way to reach the consumer and also provides enormous visibility among a loyal, passionate audience -- the millions of fans who visit Yankee Stadium each year and the many millions more who watch Yankees games on television."

For years, DKNY had a billboard on Sixth Avenue and the mid-20s in Manhattan. It was such an institution that it was pointed out to visitors on tour buses. However, the pre-crash building boom in that area of the Chelsea neighborhood forced DKNY to give up its iconic space. Donna Karan New York recently gave up a similarly iconic billboard at Houston and Broadway in SoHo. Hopefully, this new one will start to fill the void.

The public can see the new DKNY partnership in action beginning Tuesday, April 13, with the Yankees's first home game of the 2010 season.

For another glam slam, check out Brooklyn Decker on the cover of 2010's Sports Ilustrated Swimsuit Edition.