The following report is courtesy of Dave Goldiner from NYDailyNews.com:

The graffiti is on the wall for CBGB. After a long and nasty rent fight, the owner of the legendary rock club agreed yesterday to move out of its grungy East Village site next year.

"I guess money talks. That's the name of the game," said Hilly Kristal, who opened the dank punk mecca in 1973. "We tried our best."

CBGB, which gave bands like the RAMONES and TALKING HEADS a start, will leave its home on the Bowery next Halloween.

Kristal is hoping to move the club to a new spot on the lower East Side and has looked at several spaces.

But he also is considering opening a namesake joint in Las Vegas and is negotiating with deep-pocketed partners.

"I'm trying to stay in New York, but New York is expensive," Kristal said.

The Bowery Residents' Committee, a nonprofit homeless-support group, owns the building housing CBGB and has long maintained that Kristal was paying far too little rent.

"[We] can now concentrate on helping the needy and homeless of New York City" said Executive Director Muzzy Rosenblatt.

Never been there? You got a year...

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Agnostic Front/Slapshot/Warzone/Sick of it All/Murphy's Law/Youth of Today/ect.ect.

Great shows, great times...

The last show I went to there was the Gorilla Biscuits reunion fundraiser.

I will be sad to see it go.

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