Go for profesionals leather artesans and ask for prices, sure you will find a good one that makes the job perfectly and will not cost you like original one, looks like they use lombriz leather

 

To answer my own question...factory replacement part is $379 and is special order based on VIN. It takes 4-6 was as each one is made to order.

I did look at the option of regluing it, but the leather is pulled back and contracted, so it can't be pulled back to cover the edge properly.

I had looked at the carbon fiber piece before. I do like it, but it's pricey...around $2k if I remember correctly.

 

Did you look at a local shop to install a new piece of leather?
Just a caution with aftermarket leather shop, sometimes they can't match the grain of the leather on the factory piece. If your not to picky you can't see it.
Factory is a good choice, but if on a tight budget, aftermarket interior shop will work.