My impression was NYU had a high(er?) acceptance rate. Not saying they are a bad school, since the people I know there are super sharp, but still.
7% acceptance rate. They're selective.
The "NYU/USC is a party school" trope is from back in the 1990s (aka 2 generations ago).
The acceptance rate is sort of a weird criteria for NYU when you compare it to the other schools it is listed with. It is a very popular school so it gets more applicants than 3-4 of the other colleges it is listed with combined, it has a slightly higher rate than most of those schools. It also accepts more students than probably all of those schools. I went there it is a good school. I don't think most people would put it in the same category as MIT. I certainly do not think it is as prestigious.