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The Oscar winner will also star in the romantic comedy alongside Gone Baby Gone's Amy Ryan.
Adapted from Bob Glaudini's off-Broadway production, the story focuses on New Yorkers Jack (Hoffman) and Connie (Ryan), who bond over cooking classes, swimming lessons and illegal drugs.
John Ortiz and Daphne Rubin-Vega will reprise their roles from the stage production.
Filming is scheduled to begin in New York City on February 9.
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