Single Parent with 2 toddlers on Wknds: have you made a 1BR work?

Realizing this is not entirely specific to NYC, but because everything is so expensive here, I figured we could be a lot in NYC in this case.

I am a single parent with custody of 2 toddlers (2 and 4) every other wknd (4 out of 28 nights). I have to move to the city for professional reasons. 2BR are very expensive, and so keeping an open mind, I am contemplating renting a 1BR, and I would sleep on the couch whenever my children are with me.

I am looking at other single parents tight on budget who have had to make this choice: is this doable? What are things I may be missing?

Obviously, alternative would be a 2BR further away, but trying to explore all options.