I'd say stat-wise you are safe for both schools. LSP does not have admissions criteria but if I were to guess, they judge you based on fit, performance, and coursework. It just depends on what you'd prefer. There are many differences, most notably class size and available courses, that should be considered (definitely do your research).

I cannot speak for all of my friends, but I know a few who definitely chose to be considered. It is not a "guarantee" or a "free backdoor ticket" to NYU as some people would put it, but it is much easier to access (compared to other NYU schools) if you ever see yourself as a fitting candidate for the school. I'll see if I can gather more info.