UPenn has very famous business school - Wharton. We can take some elective courses there (maybe something, what is useful for public-private partnerships or government and business (something like this).
Among my friends I know many people who were admitted by SIPA (alumni, current students and applicants who are attending now). And I do not know anybody who was admitted by Fels (I heard about only rejections). Thus, Fels seems more unique than Columbia.
About NYC - except Manhattan there is nothing to do (even northern Manhattan is not attractive). NYC is more expensive for housing and others. However I heard that Philly also has many ghettos and only couple good neighborhoods (University City and City Center). But UPenn's campus definitely looks like campus, while CU's is not so big.
Do I need better international recognition? I believe that intelligent people know both Universities well