Create a custom match with the NYC - Brooklyn Bridge Straight track, select the Ninja bike from the Class A section. When you get to the bridge go full throttle and wait until you see the top speed star and then pull back on the left stick halfway to do a wheelie. While doing the wheelie press the B button to do a trick, you may need to do more than one, just hit B again after the first trick. When 5 stars appear just drop back down to 2 wheels and slow down. You won't get the achievement if you crash before the 5 stars expire, took me a few tries to figure that out ;)
This is basically the same as the first solution but it wasn't obvious to me which track to use, how to do tricks, that I needed a sport bike that allows tricks and one that goes fast enough for the high speed star. I tried about 10x with a slower bike and couldn't get more than 3 stars.