Complex sentence: The song was written about times Bob spent in the Macdougal Street apartment of comedian Hugh Romney (A.K.A. Wavy Gravy) in the summer of 1961,who he met after playing a set at The Gaslight Cafe where Romney was working as entertainment director.
Split into simpler sentences: The song was written about times Bob spent in the Macdougal Street apartment of comedian Hugh Romney (A.K.A. Wavy Gravy) in the summer of 1961. Dylan met Romney after playing a set at The Gaslight Cafe where Romney was working as entertainment director.