The station is part of 30 around the city to get "completely renewed" with a "modernized look and feel" as part of the governor's plan of improvements for the MTA.
Cuomo said the city would use a single contractor to do the work — hoping to get it finished quicker — and stations will be closed to let workers "get in, get done and get out."
A spokesman for the MTA said it was unclear yet if or for how long the Richmond Valley station would be closed for the work.
Aside from the Richmond Valley station, the agency said many of the improvements will feature in the new Arthur Kill station when it opens by the end of the year.
The station is still under construction and shouldn't suffer from additional setbacks, the spokesman said.
The Arthur Kill station — which has been delayed since the 1990s — broke ground in 2013 and will replace the current Nassau and Atlantic stations, the MTA said.
Cuomo also announced Friday that the MTA would install more countdown clocks at subway stations across the city, including in Staten Island which got funds to expand them to every station in the agency's budget last year.
Cuomo's plan also includes adding Wi-Fi hotspots and phone charging ports to subways and buses, including Staten Island lines, the MTA said.