Downtown 81 (1981) Directed by Edo Bertoglio

From Wikipedia: Downtown 81 (a.k.a New York Beat Movie) is a fictional film that was shot in 1980-1981.

This film, directed by Edo Bertoglio, written by Glenn O'Brien and produced by Maripol, is a rare real-life snapshot of ultra-hip subculture of post-punk era Manhattan. Starring renowned artist Jean-Michel Basquiat and featuring such early Village artists as James Chance, Amos Poe, Walter Steding, and Tav Falco, the film is a bizarre elliptical urban fairytale.