A hack screenwriter writes a screenplay for a former silent film star who has faded into Hollywood obscurity.

Holly Golightly is an eccentric New York City playgirl determined to marry a Brazilian millionaire. But when young writer Paul Varjak moves into her apartment building, her past threatens to get in their way.

Critics and the public say Karen Stone is too old -- as she approaches 50 -- for her role in a play she is about to take to Broadway. Her businessman husband, 20 years her senior, has been the angel for the play and gives her a way out: They are off to a holiday in Rome for his health. He suffers a fatal heart attack on the plane. Mrs. Stone stays in Rome. She leases a magnificent apartment with a view of the seven hills from the terrace. Then the contessa comes calling to introduce a young man named Paolo to her. The contessa knows many presentable young men and lonely American widows.

Soon after being wed, American heiress Lady Pearl Grayston realizes her husband has married her for her money and is keeping a mistress. The two maintain a loveless marriage, a trade-off Pearl accepts in order to gain admittance to her husband's aristocratic social circle. While Pearl pursues her own affair with gigolo Pepi D'Costa, her visiting sister, Bessie, arrives and is appalled when Pearl's arrangement is revealed.