A top Harvard administrator is the likely candidate to become the new head of a major New York City agency published sources said yesterday.

Michael Blumenfeld '55 associate vice president of public affairs and secretary to the Harvard Corporation's Committee on Shareholder Responsibility (CCSR), is a leading candidate for president of the Times Square Development Project, New York sources said yesterday.

"I find his credentials impeccable," Mayor Ed Koch was quoted as saying in a New York newspaper earlier this week. "He would be eminently qualified and a good appointment."

Blumenfeld refused to comment yesterday on his prospects for getting the high appointment.

42nd Street Renewal

A major urban renewal project preparations for the 42nd Street Project, have been underway for four years. The project has awaited a new president since Lawrence A. Graham resigned two months ago.

As CCSR secretary, Blumenfeld has served as the Corporation's spokesman on the continuing controversy over the University's investments in South Africa.

Corporation Member Hugh Calkins '45 said yesterday that he would be sorry to see Blumenfeld go, but that "it sounds as though it's a very interesting job that he's going to."

The extensive planned changes include the building of a merchandise mart, a hotel, and numerous office buildings as well as the improvement of several movie houses.

Considered for Another Job

Blumenfeld was first brought to the city's attention when he was interviewed by Deputy Mayor Stanley Brezenoff for a different job Brezenoff decided he would be well-suited to the Times Square project, and recommended him to the chairmen of the New York Urban Development Corp. and the New York City Planning Commission, according to an article in the New York Post.

Larry Simonber, assistant press secretary to Mayor Koch, said, "It Blumenfeld is the governor's choice, that would be fine with the mayor."

Simonber added that the Times Square project involves "massive recon- struction" that needs a strong administrator. Blumenfeld served as Assistant Secretary of the Army under former President Carter.

Both Koch and New York Governor Mario Cuomo must approve Blumenfeld's appointment to the $1.6 billion project, which will involve 13 acres of renovations in downtown New York City