This “New York Story” may not be fit for children.

Schlubby director Woody Allen was seen palling around Manhattan with billionaire convicted child-sex creep Jeffrey Epstein.

Epstein put his arm around the cradle-robbing director-actor and quietly talked as the pair strolled on the Upper East Side Sunday with Allen’s 35-years-younger wife, Soon-Yi, in tow.

“[Epstein] was hugging him and talking close to his ear . . . [He] had his arm on Woody’s shoulder,’’ a spy told The Post.

Epstein, a former hedge-fund big, did time in 2008 under a deal in which he confessed to two counts of soliciting a minor for prostitution and soliciting prostitution.

His victim was identified in court papers as a 14-year-old girl identified only as “Jane Doe.”

Farrow once accused Allen of molesting their then 7-year-old adopted daughter, but the allegations were never proven.

A rep for Allen did not respond to a phone call or e-mail seeking comment about the trio’s afternoon out, and no one answered 60-year-old Epstein’s door when a Post reporter knocked Monday afternoon.

Go to The Post for more.