Bosses at the library have acquired his complete archives, which include 300 linear feet of paper records, electronic records, and photographs from his life and career. The archives also feature 3,600 audio and 1,300 video recordings from interviews, performances, demos, and studio sessions, according to Billboard.

A five-inch tape reel that Reed mailed to himself in 1965 to copyright will also be displayed in the archive and organisers are still deciding whether to open the package or not.

"What better place to have this than in the heart of the city he loved the best," Reed's widow Laurie Anderson says.

The Lou Reed archive will be organised over the next year.

Meanwhile, library officials celebrated Reed's birthday on Thursday (02Mar17) by playing his music in the venue's cafe.

The Velvet Underground star passed away in 2013.