Lumet was born in New York City. She is the second daughter born to Director Sidney Lumet and journalist/writer Gail Buckley. On her paternal side, she is of Polish Jewish ancestry. Her paternal grandfather was Baruch Lumet, who was a Yiddish theatre actor. On her maternal side, she is African American, with extensive roots in the post-colonial America. Her maternal grandmother was singer Lena Horne. In 1984, Lumet graduated from Dalton School.
Lumet began working in the entertainment industry as an Actress. She appeared in small roles in two films directed by her father, Deathtrap and Running on Empty, before playing the role of Nancy Bosch in his 1990 film Q&A. Lumet wrote the screenplay for the 2008 Jonathan Demme film, Rachel Getting Married. In 2016, Lumet had a CBS drama with a pilot commitment. Lumet was a drama Teacher at the Manhattan Country School in New York City.
Lumet was married to actor Bobby Cannavale from 1994 until their divorce in 2004. Their son is the actor Jake Cannavale. Lumet has a daughter with second husband Alexander Weinstein, whom she married in 2008. On November 30, 2017, Lumet alleged she had been sexually assaulted by Russell Simmons in 1991. In response, he said he was removing himself from the businesses that he founded.
