For the last 20 years in nyc, people right out of college have always used public spaces (parks, bars, clubs) as venues for their parties.
On any fair-weather Saturday during spring-fall in Morningside park, there are 100s of people having parties with outdoor bbqs, lounging, bubble-making, etc.
Same in central park. A friend of ours had their post-wedding party in central park around a huge oak tree; maybe 80 people showed up. The same couple hosted at least 3 parties during the year in their 1bd Village apartment (900 sq ft).
It seems contradictory that the guests of parties expect "bourgeois cheese and beer" and yet themselves have limited budgets.