I had a really amazingly talented friend who hated it and switched after a semester. I think he was a fluke though and I would definatly check it out if I were you. He ended up switching to a smaller school where he could be a "bigger fish". So go with that in mind. Its a fairly large school and competitive - but worth looking in to.
My best friend went to Fordham (in the Ailey dance program however). She took a couple musical theatre classes and I attended one of them on a visit, and it was awful. I also attended a production of Blood Brothers which was pretty amateur. I would look elsewhere for a theatre school. That's my opinion.
From the evil she done Lord
Set her free, Set her free, Set me free
Don't let my sorrow
Make evil of me
NYU. Tisch School of the Arts is what is renowned for theater but Steinhardt's M.T. program is very up and coming. Other schools in NYC you should look at: Juilliard, The New School and Marymount Manhattan College.