The film, which also stars Jeannie Berlin and Ken Stott, will begin filming this month in New York and Los Angeles. Meanwhile, Anna Camp and Paul Schneider are included in the list of "co-stars", reported Ace Showbiz.
The film will mark the third time that Stewart and Eisenberg team up for a feature film. The duo previously worked together in 2009's "Adventureland" and most recently in "American Ultra".
The film will also become Allen's first film to shoot in New York after the director has decided not to shoot in the Big Apple for years due to its prohibitive expense.
Allen's longtime collaborators Letty Aronson and Steve Tenenbaum are producing with Edward Walson. Ronald L Chez, Adam B Stern and Allan Teh are tapped as executive producers.
As of now, the plot details and the release date of the movie are not yet revealed.