The former Velvet Underground frontman left his Manhattan penthouse, his home in East Hampton, New York, and the bulk of his estate to his wife, musician Laurie Anderson.
Lou Reed’s sister inherited about a quarter of his estate and a $500,000 bequest to care for their mother.
Lou Reed was 71 and had no children.
The rocker married long-time partner Laurie Anderson in 2008.
The Velvet Underground became renowned for their fusion of art and music and for collaborating with Andy Warhol.
Although the band never achieved commercial success during the 1960s, their influence on music in later decades was widely recognized.
The glam, punk and alternative rock movements of the 1970s, 80s and 90s were all indebted to Reed, whose songs were covered by the likes of REM, Bowie, Nirvana, Patti Smith and countless others.
After quitting The Velvet Underground in 1970, Lou Reed released his self-titled debut in 1972, but it wasn’t until the Bowie-produced LP Transformer later that year that he achieved chart success.
Perfect Day enjoyed a revival in 1996 when it was featured in Danny Boyle’s Trainspotting..
As a solo artist, Lou Reed released 20 studio albums. His last, Hudson River Wind Meditations, was released in 2007.
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