"Tiny and almost no longer"
Shevchenko Place is a one block street that traverses Cooper Union School. The Ukrainian population in New York fought to have this name given to what was formerly Hall Place and they won in the '70's. Well, they sort of won: both street names are up on the sign. This street is a pedestrian walkway from 6th to 7th that runs in between Cooper Union's main building and their residence hall. The place is still surrounded by Ukrainian businesses and a Ukrainian Church but Cooper Union has had plans in the works for a decade to terminate this street and it looks like the bill is about to be passed. As far as things to do, McSorley's is right at the end of the walkway on 7th, so it's spitting distance from one of the oldest and most popular bars in the city. But, you can't live on this street and there's really nothing to do on it. It's in a great area and there are infinite things to enjoy surrounding Shevchenko Place but it is really just a means of getting through the school (which is gorgeous, by the way).