The play takes place in Dennis Ziegler's apartment on the Upper West Side of Manhattan in March 1982. Dennis's friend Warren Straub, a dejected 19-year-old, has just been kicked out of his house and stolen $15,000 from his abusive lingerie-tycoon father. Dennis, the more wily and domineering of the two, spends some of the money on cocaine, hoping to sell it to a friend for much more. Jessica Goldman, an "anxiously insightful" fashion student, comes over and Warren hopes that he can use the money...