According in an adcom in a nyu presentation it seems this option is only available for black and hispanic students. But using Consortium you can apply to a few schools at the same time with a flat rate. You might wonna double check if it applies to Asian students though...
I attended their seminar. Consortium's mission is to cultivate more minorty business leaders, which also applies to Asians.There are many advanteges by applying through Consortium.However, they require US citizenship to participate in the program.
NYU Stern is a member of the Consortium for Graduate Study in Management, an alliance of American business schools and top corporations established to enhance diversity in business education and leadership by helping to reduce the serious underrepresentation of African Americans, Hispanic Americans and Native Americans in both the member schools’ enrollment and the ranks of management.
The Consortium achieves this mission by recruiting for graduate business education qualified U.S. citizens and U.S. Permanent Residents from these underrepresented groups, as well as other persons who can demonstrate a commitment to the Consortium’s mission and can best assist the Consortium in pursuing this mission.