Louie decides to buy a luxury co-op apartment with some help on the down payment from the newly wealthy Jim. Unfortunately, Louie first has to convince a snooty co-op board that he is right for their building (as he comes in, they are rejecting actress Penny Marshall because they don't approve of the actress lifestyle). Bringing Alex for support, Louie has his work cut out for him when he sees that the board is bigoted. Alex goes on a tirade against their discriminatory process, and the board accepts Louie just to spite Alex.
