Naomi Watts was spotted out and about in NYC last week, strolling with her precious pup, and sporting a wrap dress that we're kind of obsessing over.

Said dress will be on sale at Banana Republic beginning August 8th, as part of a limited-edition capsule collection for Banana Republic by Kate Middleton-adored designer Issa London. The best part? Naomi's exact style can be snagged for a cool $140. We think we're okay with that.

Naomi, who is in town filming her new movie, St. Vincent de Van Nuys, paired the red and white wrap dress with yellow wedge heels and a Balenciaga carryall.

Click through the gallery to see our previous looks of the week!