Directed by James Ivory and produced by Ismail Merchant, it stars Bernadette Peters, Adam Coleman Howard, Chris Sarandon, Mary Beth Hurt, Mercedes Ruehl, Madeleine Potter, and Steve Buscemi.

The story follows Eleanor, an aspiring hat designer, and a group of artists and models in the "downtown" New York City art world.

[3] In discussing casting the role of Eleanor, James Ivory commented: "...but out of 100 girls, there was not a single one with Miss Peters's originality.

[4] Roger Ebert, who gave the film a half-star rating, opened his review with the statement "I detest Slaves of New York so much that I distrust my own opinion".

It is notorious for a scene that features a drag act performing "Love Is Like an Itching in My Heart" by The Supremes while making their way down a street in full evening gowns.