The magical collectibles store that Gizmo calls home has just been destroyed, and the tiny monster finds his way into a newly erected skyscraper. Billy Peltzer (Zach Galligan) and his bride-to-be, Kate (Phoebe Cates), who have previously dealt with Gremlins run amok, discover that Gizmo and an impish legion of reptilian pals are inhabiting the downtown building. The couple tries to stop the creatures from escaping into New York City, but this new batch of beasts might be uncontrollable.