After a hiatus of more than a decade, the Grammy Awards are expected to return to New York in 2018, several people familiar with the city’s bid to lure the ceremony from Los Angeles said.

The decision caps months of talks between the de Blasio administration and the Recording Academy to bring the 60th Annual Grammy Awards to the city — an effort that included a burst of last-minute fund-raising from business leaders.

The ceremony has bounced between New York and Los Angeles since the first awards were given out in 1959. But the last time the awards were held in New York was in 2003, when the Bloomberg administration persuaded the Recording Academy, the nonprofit that organizes the Grammys, to return to New York after four years in California. The ceremony went back to Los Angeles the following year, and has remained there since.

The hurdle in returning to New York this time around was the price tag: The Recording Academy said that producing the awards in New York would cost several million dollars over what it cost in Los Angeles; changing the venue would require bridging that gap.