Do you have gas or electric heat?
Space heaters are typically rated at 1.5 kW and electric is about 15 cents/kWh so each hour its running a space heat will cost about 23 cents. Seems cheap but it adds up fast, if you run it for say 8 hours a night it will add $54 to your monthly electric bill.
Central air should be pretty cheap if the apartment is relatively draft free/insulated. Use the central heat and a programable thermostat. Make sure your windows are well sealed. Only way to tell for sure is to try one month of each and try to make appropriate adjustments for the outside temperature. Use the home heating day numbers for your math.
Seal your windows and the Vornados are great. You can set the wattage and the temperature. They heat up a small space pretty quickly. I use one in my bedroom and the great thing is I can have it blow the air toward me.
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