The street shares its name with Liberty Avenue at the intersection of Lefferts Boulevard in Richmond Hill.
The area is home to many Guyanese residents and businesses.
The city says the new name is a way to honor the accomplishments and contributions of the Guyanese community.
"Guyana not only has done so much for New York City but represents such possibility. People of different backgrounds, ethnicities, faiths coming together as one. That is what New York City stands for as well," de Blasio said.
New York City is home to the largest Guyanese community outside of Guyana.
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