Situated at the end of the Arsenale , close to the ferry shuttle dock , it is being organized by Cai Guo-Qiang , the Chinese-born artist well known to New Yorkers for creating a 20-second rainbow over the East River along Manhattan three years ago for the opening of the Museum of Modern Art 's temporary exhibition space in Long Island City , Queens , and for '' Light Cycle , '' a three-part pyrotechnic experience a year later that illuminated the sky over Central Park for the park 's 150th anniversary .