It's Fashion Week, and while Neal is enjoying himself, Peter is less enthusiastic about the legion of beautiful women that has descended on Manhattan. Things get worse when one of those beautiful women is witness to a murder.
Peter and Neal interview a model named Tara, who watched as the notorious Israeli counterfeiter Ghovat killed one of his business associates. Peter thinks Ghovat is in town with something to sell, and fashion week gives him the perfect cover. But how to find this man they call "The Ghost?" Neal has an unorthodox suggestion: throw a party. Judging by Ghovat's proclivity for gorgeous women and glamorous scenes, it's only a matter of time before he shows up. With Elizabeth's event planning expertise, Peter and Neal plan a lavish affair designed to catch the eye of the counterfeiter. Neal and Tara work the party, keeping an eye out for Ghovat, while Lauren Cruz, a beautiful, whip-smart agent transferred from the Violent Crimes Unit, keeps an eye on Neal. The trap is set, but the wary Ghovat slips through the FBI's fingers. Back at square one, the team shifts focus to Ghovat's buyer, Dmitri.
Meanwhile, Neal worries that the mystery man who took Kate to San Diego has also switched focus - to Neal! Neal doesn't know what he's after, but he's convinced that Kate tried to warn him through a secret message on her final prison visit. The problem is, Peter is the one with the security footage from that day, and Neal doesn't think his new partner will be too keen on letting him have the tape. But it's the former con man's turn to be surprised when Peter agrees to let Neal have the tape...just as soon as they wrap up the Ghovat case.
Unfortunately, that's going to be easier said than done, as Dmitri winds up dead by Ghovat's hand. "The Ghost" may have slipped away again, this time for good. If he hadn't left behind a valuable clue, that is. In Dmitri's mouth was a dress (which was supposed to contain sensitive information stiched into but was not there). Tracing it back to the designer, the gang figure out what "The Ghost" was planning on selling. Using Tara and the dress as bait, the FBI set a trap. Sadly, it fails and Tara is kidnapped! Ghovat instructs Peter to exchange the real dress for Tara. Ghavat ties a bomb-belt to Tara and takes the dress from Peter.
But Neal outsmarts Ghovat, stalls him, and Lauren knocks him down. Peter and Tara manage to get rid of the bomb meanwhile.
As promised earlier, Peter gives Neal the security footage of Kate's last visit to him in jail, from which he gets a clue from Kate, which points him to the wine bottle that Neal thought to mean 'goodbye'. Neal starts to look for the clue that Kate left on the bottle for him.
[Peter trying to hail a cab. Neal walking beside him.]
Peter: I hate this. Every year. Every year, it's like this. Finally squeezed into a train at Union Square. Couldn't fall down if you were shot. Come on. It's impossible to catch a cab. Ah, thank you.
Neal:[letting some women take the cab they just hailed] Peter, Peter, Peter, Peter. Yes. Enjoy your day. It's Fashion Week, Peter. Embrace it.
Peter: Yeah. Here we go, excellent. Good. All right. [A group of women get to the cab first.] Oh no. Oh. Yes. All right. Let me help you here. Squeeze. [Peter closes the door, frustrated.] We are supposed to be interviewing our witness right now.
Neal:[takes a bill out of his pocket] Here. All right. Relax. [Holds the bill out on the street.]
Peter: That's not going to do it.
[Quickly a cab comes to a screeching halt in front of them. Neal smugly helps Peter into the backseat.]
Neal: We ID the dead guy?
Peter: Foreign national out of Turkey, known associate of Ghovat.
Neal: Falling out over business?
Peter: Yeah, that's what I'm thinking. My working theory: this has something do with fashion week.
Neal: Well, assuming our ghost's got something to sell, Fashion Week's a great cover.
Peter: He's got all his buyers in New York this week with no bells going off. Unfortunately, we've got thirty thousand buyers.
Neal: We've also got someone who can identify his voice! [Realizes something.] Oh-ho!
Peter: Care to share?
Neal: You're going to think I'm crazy.
Peter: That's never stopped you before.
Neal: We throw a party.
Peter: Is it your birthday?
Peter: Then you're crazy.
Hughes: A party?
Peter: The witness is confident she can identify him by his voice.
Hughes: How do you know he'll show up?
Neal: We fill it with beautiful women.
- Matt Bomer as Neal Caffrey
- Tim DeKay as Peter Burke
- Willie Garson as Mozzie
- Tiffani Thiessen as Elizabeth Burke
- Natalie Morales as Lauren Cruz
- Sharif Atkins as Clinton Jones
- James Rebhorn as Reese Hughes
- Donnie Keshawarz as Dmitri
- Carlo Rota as Ghovat
- Alexandra Daddario as Kate Moreau
- Carmel Amit as Tara
- Arian Moaye as Avet
- Adi Hanash as Foreign Diplomat
- Tim Burke as Waiter