It was a neighborhood place in a low-rent neighborhood that happened to house artists and derelicts side by side, inspiring some hard-nosed art. During her set Ms. Smith described CBGB as “this place that Hilly so generously offered to us to create new ideas, to fail, to make mistakes, to reach new heights.”

It was no surprise that real estate values finally caught up with CBGB. The wonder was that so much came out of one decrepit bar, and that CBGB lasted as long as it did.

Check out the accompanying slide show and videos.