Lou Reed’s Estate Valued At Over $20 Million
NEW YORK (CBSNewYork/AP) — The estate of the late Lou Reed is worth over $20 million, and has been bequeathed to his wife — musician Laurie Anderson — and his sister.
Reed’s executors value musical rights and various other assets in his estate at $20.3 million in court papers filed Monday in Manhattan.
The sum does not include the East Hampton, Long Island, home Reed bought for about $1.5 million in 2009 or his Manhattan apartment in a building where apartments sell for millions.
Reed’s attorney and one of his executors did not immediately return calls Tuesday. The filing is part of the legal follow-up to Reed’s will, filed in November.
Reed died Oct. 27 of last year morning of an ailment related to a recent liver transplant. He was 71.
He was the leader of the 1960s cult band Velvet Underground before embarking on a solo career.
>The punk-rock poet had one top 20 hit with the song, “Walk on the Wild Side,” and influenced generations of musicians with the Velvet Underground classics “Heroin,” “Sweet Jane,” “Pale Blue Eyes,” “All Tomorrow’s Parties” and “Satellite of Love.”
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