A note on Reed's Facebook page described it as "A gathering open to the public," with "no speeches. no live performances, just Lou's voice, guitar music & songs - playing the recordings selected by his family and friends."
The memorial, dubbed "New York: Lou Reed at Lincoln Center," will be held at the Paul Milstein Pool and Terrace at Lincoln Center from 1 to 4 p.m, according to the Facebook post.
Lincoln Center representatives did not immediately respond to a request for comment on the event.
Reed was the lead singer of the Velvet Underground and is also known for his long solo career after departing from the band in 1972.
He married artist Laurie Anderson, with whom he collaborated frequently, in 2008. The couple had been dating since 1992.
Reed died of liver disease in his East Hampton home on Oct. 27.