Asteroid 2016 LY48 is approaching Earth at a speed of 38997 kilometers per hour.
It will make its closest approach on September 16, at a distance of about 1.9 million kilometers.
The asteroid measures approximately 310 feet in width, nearly the size of a building.
It does not meet the criteria to be classified as a Potentially Hazardous Object by NASA.
Historical close approaches occurred in 1928 (7.3 million kilometers) and 1949 (2.3 million kilometers).
The next anticipated close approach is projected for September 15, 2185, at a distance of 4 million kilometers.
Asteroid 2016 LY48 belongs to the Apollo group of Near-Earth Asteroids.
Apollo asteroids have semi-major axes larger than Earth's orbit.
The process of assigning a provisional designation to an asteroid involves vigilant observation and is overseen by the International Astronomical Union.