The Manhattan hotspot -- credited with helping establish the careers of Television, the Ramones, Blondie, Patti Smith, the B-52's and Talking Heads -- closed down last spring. However, pieces of it will soon be on display, thanks to a new ownership team headed by James Blueweiss and Robert Williams -- partners in the recently formed CBGB Holdings -- as well as members of founder Hilly Kristal's immediate family, long-time employees and music industry advisers who have a history with the club.

"This is an awesome responsibility," Williams said in a statement Thursday. "And we are pleased to have arranged for CBGB to be a featured exhibit at the new Rock & Roll Hall of Fame Annex opening this week in New York City. It honors the club's place in rock 'n' roll history and preserves important artifacts for all to enjoy."

"There were and are lots of clubs around the world, but there was only one CBGB," said Terry Stewart, president of the Rock & Roll Hall of Fame and Museum. "Its contribution to rock 'n' roll is undeniable. It is only fitting to have the awning, graffitied walls and other important pieces of the club here as a key exhibit."