The film unfolds in the dimly lit ambiance of a New York nightclub, where the gothic rock band Bauhaus electrifies the night by performing the hauntingly beautiful song, "Bela Lugosi's Dead." Among the captivated audience are the enigmatic John and Miriam Blaylock, portrayed by the legendary David Bowie and the timeless Catherine Deneuve. Dressed in their trademark stylish attire and exuding a predatory allure, they navigate through the crowd where they encounter a young couple, played by John Stephen Hill and Ann Magnuson. The intrigue deepens as this couple invites John and Miriam back to their home, only for the encounter to turn darkly seductive, with John and Miriam's true nature revealing itself in a gruesome fashion as they #viciously attack their victims, slashing their throats with ancient Egyptian pendants instead of conventional fangs.
At the heart of this tale is Miriam, an immortal being who possesses the unnerving ability to bestow her supernatural gifts upon select human beings that she takes as lovers. However, this gift of immortality comes with dire consequences; her chosen ones do not share in her true immortality. Typically, after approximately 300 years, they begin to rapidly age, leaving them in a grotesque state of existence—forever conscious but withering away as their bodies decay. These once-vibrant souls are then confined within caskets that Miriam keeps hidden away in the attic of her sophisticated abode. It was during the 18th century that Miriam first granted this gift to John, who, much like her prior lovers, eagerly accepted the offer without foreseeing the bitter fate that lay ahead.
As the narrative progresses, John begins to face a disconcerting dilemma; he suddenly finds himself plagued by insomnia and a relentless aging process that escalates with alarming speed. Understanding the gravity of the situation, Miriam seeks out the renowned gerontologist, Dr. Sarah Roberts, portrayed by the talented Susan Sarandon, desperate to find a solution for John's alarming condition. However, as Miriam contacts Dr. Roberts through her psychic intuition, she learns that the doctor is only making educated guesses, her research yielding little hope for a reverse of John's condition. The inescapable truth looms over them—much like all of her past lovers, John is fated for deterioration.
In his desperation, John makes an ill-fated attempt to consult Dr. Roberts at her clinic, where she dismisses his claims as mere delusions. Trapped in a waiting room, John experiences decades of aging within mere hours, leaving him in a state of horrific disarray and bloodlust as his longing for blood pushes him toward a victim. During this descent into darkness, he targets Alice, played by Beth Ehlers, a music student under the tutelage of both John and Miriam. Tragically, her blood provides no relief, leading to John's physical collapse as he tumbles down a staircase, the weight of his own demise proving too great to bear. In a heart-wrenching scene, Miriam carries John's lifeless body to the attic, laying him to rest within a coffin alongside the remnants of her previous lovers.
In a surprising twist of fate, Dr. Sarah Roberts arrives at Miriam's house in search of John, only to discover a compelling attraction toward Miriam herself, leading to an instant and magnetic connection. Blinded by desire, Sarah unknowingly steps into the abyss of vampirism, as Miriam silently transforms her into one of her beloved creatures, just as she did with John. Meanwhile, Lieutenant Allegrezza, played by Dan Hedaya, appears at Miriam's residence, searching for Alice, his suspicions piquing despite the lack of evidence linking Miriam to any wrongdoing.
As Sarah struggles with bizarre symptoms of her newfound vampirism—severe hunger that normal food fails to satisfy—she begins seeing visions of Miriam everywhere. A confrontation ensues when Sarah, seeking answers, interrogates Miriam, who cryptically reveals that she has granted Sarah eternal life, entwining them fatefully. In her turmoil, Sarah grapples with a profound sense of loss, ultimately refusing to accept Miriam's dark gift. Her inability to find solace drives her to seek comfort among her colleagues, including her boyfriend, Tom Haver, played by Cliff De Young. However, nothing prepares her for the horrific revelation that she has become a predator.
Desperation escalates when Tom, following Sarah’s mysterious disappearance, arrives at the townhouse searching for her. When he encounters Sarah, Miriam grasping the chilling reality that Sarah's thirst for blood has reached an insatiable peak, orchestrates a tragic moment that seals Tom's fate—Sarah consumes him. Now fully captivated by Sarah's potential as a companion for eternity, Miriam embraces her as her new lover. Yet Sarah, engulfed in guilt and confusion due to her actions, attempts to escape this hellish existence. In a shocking turn, as she grapples with her dark reality, she utilizes Miriam's ankh to inflict a fatal wound upon herself, intertwining their fates one last time.
Miriam, initially horrified by Sarah's act of desperation, finds herself obliged to carry her body to the attic, preparing to add her to the collection of previous lovers. Upon reaching the attic, she is confronted with a haunting scene: the lovers long forgotten now rise up, freed from Miriam’s grip, causing her the greatest of concerns as they crumble to dust around her. The sudden influx of Sarah’s blood triggers a profound metamorphosis within Miriam, threatening her own existence.
As the tale comes to a close, Lieutenant Allegrezza's return to the now deserted townhouse reveals a haunting emptiness, with the remnants of luxury stripped away. All the elegant furnishings have vanished, their absence a testament to the turmoil that once inhabited the space. In the lingering final image, Sarah emerges in a dazzling high-rise apartment, accompanied by a fresh set of lovers, her life now turned into a surreal existence, all while Miriam lies imprisoned within a coffin—the ultimate irony echoing through the darkness, screaming for the release she so graciously confined upon others.
