For the 1993-94 school year, the Office of Educational Research (OER) of the New York City Public Schools was asked to conduct evaluations of the 12 magnet schools funded under the New York State Magnet School Initiative. The state initiative was planned to promote the development of magnet schools that promote multicultural educational environments, reduce ethnic isolation, promote academic success for all students, and foster parent and community involvement. In New York City, four elementary schools, five intermediate schools, one middle school, and two junior high schools were selected, with five schools implementing their programs in 1993-94 and seven schools in the planning stage. OER found that the planning schools generally made adequate progress toward their goals for designing and organizing their schools, as well as for recruiting students for the implementation year. However, the implementing schools did not completely achieve their academic goals or their goals for reducing ethnic isolation. New strategies for reducing racial isolation may be necessary. Recommendations are made for improvement of planning and implementation. Fifteen tables present evaluation findings, and five appendixes provide details about percentages of students at various levels of reading and mathematics achievement. (SLD)