Colin Farrell plays the lead role of a thief who breaks into a dying girl's New York mansion, and ends up falling for her.
Downton Abbey's Jessica Brown Findlay will play the doomed girl, while Deadline reports that Hurt will take on the role of her protective father.
The film takes place in both 19th-century and contemporary New York, and is adapted by writer-director Akiva Goldsman from Mark Helprin's 1983 novel of the same name.
Goldsman, best known for penning the screenplays for A Beautiful Mind, The Da Vinci Code and Angels & Demons among others, will make his feature directorial debut with the film.
Russell Crowe is in talks to play one of the film's villains, with Will Smith also rumoured to be attached.
Filming is due to begin this October in New York.