The show -- dubbed "Concert 4 NYC" -- will benefit the Robin Hood Foundation, a charity targeting poverty in NYC.
Although the show is free, concertgoers must have tickets to enter. More than 50,000 tickets are available through an online giveaway. VIP tickets will also be sold online.
Robin Hood's partnership with the multiplatinum foursome includes funding to launch three Peapod Academies. The school is an arts center for teenagers started by the Black Eyed Peas.