It was 1978 and The Good Rats were one of the bands that ruled the New York City area music scene. There was also lots of crime in NYC and this is a song depicting one aspect of that “scene”.
Combining hard, driving rock with Jazzy riffs and the range of Peppi Marchello’s voice, they were “The One, The Only, The Good Rats.
From the Rats To Riches Album, the song is entitled: Boardwalk Slasher
You can catch another legendary song from the same album here: Coo Coo Coo Blues