The exact cause of death was not available as Wenn went to press.
Born in Brooklyn in 1942, he formed the Primitives and the Warlocks with Welsh musician John Cale. The duo teamed up again to create the Velvet Underground with Sterling Morrison and drummer Maureen Tucker, and became a staple of the late 1960s New York City music scene.
The band's 1967 debut The Velvet Underground & Nico is considered one of the most important albums of the 20th century.
Reed enjoyed a solo career after splitting with the Velvets in 1970, recording another landmark album - 1972’s Transformer, with David Bowie as his producer.
The late rocker's solo hits include Walk On the Wild Side and Satellite of Love.