Pay Down Mortgage to Remove PMI and Pay Down Loan?

[William D.]

BP! 

I purchased a 1bed 1 bath condo in NYC for 260k with a 15k sellers concession for the down payment. 275k in total. 

I put 10% down 27k

I did a full renovation for about 28k. 

I closed this past February and live in the property.

HOA is $267 and includes the usual, water, outside maintenance, pool, tennis court, basketball court, snow removal , and storage.

My current total payment is $1925, including taxes, HOA, and $199 for PMI.

My question is, should I pay down my mortgage to reach the 80% LTV so I can remove my PMI and pay down my mortgage? The cost to pay down the mortgage to reach 80% is $17000. Or should I invest the money in another property?