You're going to be better off getting something like a Rock N Play or a pack N Play. We bought the rock n play in plans to use it as the "bassinet" but LO hated it. We were lucky we received the pack in play as a gift! (I originally didn't want one). We set it up and it fits right beside my side of the bed. It had a changer attached to the top that was just annoying so we didn't use that part. But he still sleeps in the pack N play now at 5 months and he's less than a foot away.
This is the one we have- http://www.amazon.com/Graco-Playard-Reversible-Napper-Changer/dp/B005UV0UCM/ref=sr_1_3?ie=UTF8&qid=1352008011&sr=8-3&keywords=graco+pack+n+play
The baby can sleep in the top part until 15 pounds, and the next part until 30, then the bottom part after that but I'm not sure what the weight limit on the bottom is. I'm in love with this thing and I'm SO glad we were gifted one.