Officials said they plan to announce investors and contract terms in the next few weeks.
New York's ability to attract Goldman Sachs shows the potential for social-impact bonds to expand beyond the philanthropic world, said Alicia Glen, the head of the bank's Urban Investment Group in New York.
"If the capital markets and financial institutions can get comfortable with the return profile and the risks associated with it, and also have a double bottom line as part of their business, that's