The Rock and Roll Hall of Fame is coming to New York City -- the city that spawned hip-hop, the Velvet Underground, and gave Bob Dylan and the Ramones their start.

Mayor Michael Bloomberg said an annex to Cleveland's famed museum will open its doors at a downtown location on Mercer Street in November.

"New York City has a longstanding reputation as the land of opportunity for aspiring artists and musicians, and as a result some of the most internationally celebrated musical performers of this century have had their start right here on our streets," Bloomberg said at a Wednesday news conference, flanked by New York musician Billy Joel and record producer Clive Davis.

"It’s only fitting that the role our city has played in launching the careers of so many of the world’s most talented artists be recognized and honored with the opening of the Rock and Roll Hall of Fame Annex," Bloomberg said.

The 25,000-square-foot facility's exhibits, films, interactive kiosks, education programs and public events will mark the first time the hall of fame has expanded outside Cleveland. It will include a theater showing historic performances by the likes of Bob Dylan, The Beatles, Chuck Berry, Elvis Presley and The Who. There will be exhibits ranging from Grateful Dead lyrics to 50 Cent's impact on popular music.

Other memorabilia -- a handwritten poem by Jim Morrison, Elvis Presley’s motorcycle jacket, Michael Jackson's jacket from "We Are The World," John Lennon’s Record Plant Piano and Bruce Springsteen’s 1957 Chevrolet -- will also be displayed.

The original 150,000-square-foot Hall Of Fame in Cleveland, designed by famed architect I.M. Pei, opened in 1995. More than 6 million visitors have toured the facility since then, the museum said.