my score fell PLEASE HELP!!

Sorry to hear about this. Your "low" (and by low I mean low on the NYU scale) GMAT score can be offset if you have stellar academics and a stellar work profile. I know people that have gotten into NYU with scores in the 600s so that's certainly possible.

If your academics and work profile are "average," I would say take the GMAT over. But I am the type that would apply regardless assuming I have parts of my application which I feel will give me admission into NYU. For example, if your work experience is great BUT my gmat/academics are "average" or below, I'd certainly apply knowing that MBA programs are for working individuals/people with notable experience. If you do not have good work experience, I'd focus on making my GMAT score/undergrad academics (if you are still doing undergrad) pave the way...

So I personally feel this depends on your profile... If your work experience is stellar, then explain in your essay (or an optional essay) why your GMAT score is low and/or why NYU should accept you. The idea is to persuade the committee and not to simply fall into their acceptance profile range, IMO.