No, the word 'it' is not a noun. The word 'it' is a pronoun, the third person, singular, personal pronoun that takes the place of a noun for a thing.
My bicycle is new. It was a gift for my birthday.
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"Park Avenue" is a proper noun, because it is a place. Proper nouns like this should always be capitalized.
Exxon is a proper noun
Yes, the word 'Ali' is a proper noun, the name of a person.A proper noun is the name or title of a specific person, place, or thing.A proper noun is always capitalized.
Proper noun
It is a proper noun, because it is the name of a specific thing.