Report: New Owner May Reopen Legendary CBGB Rock Club

NEW YORK (CBSNewYork) -- The legendary CBGB rock club on the Bowery has a new owner who plans to reopen it, according to published reports.

The daughter of founder Hilly Kristal reportedly agreed to the sale three months ago.

A spokesman for the undisclosed new owner said Lisa Kristal was more motivated by preserving the legacy of the club than by money.

The club is famous for launching iconic punk and New Wave bands such as The Ramones, Blondie and Talking Heads.

CBGB's, which was founded in 1973, closed its doors in October 2006 after a homeless advocacy group that owns the property, the Bowery Residents Committee, would not renew the club's lease.

Patti Smith performed the final show at the famous punk bar on Oct. 15, 2006.

Ever been to CBGB's? Who'd you see there? Do you hope the club reopens? Let us know below...