As a 2L who applied ED into a T5 and got in, I'd advise against applying ED anywhere unless you're 100% set on going there. I did it because I had to get into a school in a specific location, and I wanted the peace of mind. If I could do it over again, I would apply regular decision just so I could get some money. From the looks of it, you're not dead set on a single law school, in which case you should give yourself the opportunity to get some money from these schools and possibly keep yourself open for Columbia, Harvard, wherever. I don't see the good in foreclosing opportunities if you have the stats more than likely to get in.
But if it's UPenn v. NYU, all things equal, I would choose NYU. Going to school in the city that you want to work in has benefits that I did not consider before going to law school. There are big firms that will only do OCI at area schools (and might by chance leave out UPenn); they are more likely to bring you back for a callback if they don't have to reimburse your traveling fees; if you want to network during the school year, the city is at your fingertips; if you want to work or extern during the school year in NY, it's much easier if you're in the city; if you want to work in NY during the summers you don't have to worry about subletting; etc. Generally, it seems there are more resources in NY than Philadelphia. Plus NYU has a great public interest program.