I interviewed for that program last year, but ended up not being offered one of the spots. I don't know if your experience was similar, but last year they put 40 people through group interviews for half a day for 4 spots. Honestly, I'm not sure if I would have accepted admission there even if it was offered to me. I thought that the way they treated the applicants was pretty harsh, and that turned me off. They didn't offer much in the way of a breakfast or a social and then threw us right into group interviews without a welcome. Although the faculty was nice for the most part, one professor was downright snappy with me when I asked her a question. Overall, I didn't feel very respected.
Other impressions of the program included the fact that they didn't seem to have very high quality facilities. The grad students, if I recall, didn't even have offices, but were in cubicles there in the main room. I also remember a story one grad student told us of having to sit on the floor outside of a professor's office in order to ensure she could get a meeting. Lastly, some of my professors have told me that the program at NYU is not very respected in the field.
However, all that being said, NYU is a great school and you can take opinions as to whether or not it respected with a grain of salt. It is certainly competitive. As far as studying in Manhatten goes...well, there could be worse things 😉. The library there alone is awe inspiring.
Hope this helps somewhat. Again, these are only my impressions based on a very short group interview with the program.