Stern Part Time - Shot in the dark

Hi, I just recently applied to Stern Part time for the Manhattan program.

-I have a 3.2 cumulative GPA in accounting w/ a CPA license.
-Since college, I have only worked for one firm, a Big 4 accounting firm and have been promoted since starting.
-Great letters of recommendation from top ranked positions w/i my firm; good essays; multiple extra-circulars
-I took the GMAT's practically blind and scored a horrendous 500, which I do not think reflects my over intelligence in any way. However, I had to take the exam to complete the application and took the exam w/ little preparation during a very strenuous busy season.
-I have done work with a few "start up companies" which have recently been bought out by some of the largest internet companies in the world so I have some experience outside the accounting field within entrepreneurship.
-also have 100% sponsorship from employer as they are more than happy to be flexible w/ work/life balance and are willing to pick up the entire bill. Not sure if that helps in ANY way?

I understand with an absolutely terrible GMAT score, it would be quite difficult to get into a school like Stern Part Time, but wondering if there is any chance at all or should I not even bother submitting an application?

Thanks in advance for your time!