Architect vs Project Manager

Just bought a brownstone in Historic District of Bed-Stuy. Its close to full gut reno (plumbing, electric, etc). Im a little overwhelmed to know where to start. A friend recommended a Project Manager as apposed to an architect. He will more or less work like a CG and then bring in the various subcontracts I need. The main reason being that we do have a pretty clear idea of what we want to do so do we really need to spend a fortune on an architect?? I would love feedback or suggestions.