BLACKROCK NEW YORK MUNICIPAL INCOME TRUST

Regulatory Filings • Jun 27, 2011

N-Q 1 i00267_bny-nq.htm

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-10337

Name of Fund: BlackRock New York Municipal Income Trust (BNY)

Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809

Name and address of agent for service: John M. Perlowski, Chief Executive Officer, BlackRock New York Municipal Income Trust, 55 East 52 nd Street, New York, NY 10055

Registrant’s telephone number, including area code: (800) 882-0052, Option 4

Date of fiscal year end: 07/31/2011

Date of reporting period: 04/30/2011

Item 1 – Schedule of Investments

insert

Schedule of Investments April 30, 2011 (Unaudited)
(Percentages shown are based on Net Assets)

| Municipal
Bonds | Par (000) | Value |
| --- | --- | --- |
| New York — 133.2% | | |
| Corporate
— 17.3% | | |
| Chautauqua County Industrial Development Agency, RB, Nrg Dunkirk Power Project, 5.88%, 4/01/42 | $ 1,000 | $ 929,600 |
| Essex County Industrial Development Agency New York, RB, International Paper Co. Project, Series A, AMT, 6.63%, 9/01/32 | 550 | 567,969 |
| New York City Industrial Development Agency, RB, American Airlines Inc., JFK International Airport, AMT (a): | | |
| 7.63%, 8/01/25 | 3,200 | 3,229,152 |
| 7.75%, 8/01/31 | 4,000 | 4,040,040 |
| New York Liberty Development Corp., RB, Goldman Sachs Headquarters, 5.25%, 10/01/35 | 6,850 | 6,702,108 |
| Port Authority of New York & New Jersey, RB, Continental Airlines Inc. and Eastern Air Lines Inc. Project, LaGuardia, AMT, 9.13%, 12/01/15 | 7,250 | 7,337,000 |
| Suffolk County Industrial Development Agency New York, RB, KeySpan, Port Jefferson, AMT, 5.25%, 6/01/27 | 7,000 | 6,684,930 |
| | | 29,490,799 |
| County/City/Special District/School District — 25.4% | | |
| Amherst Development Corp., RB, University at Buffalo Foundation Faculty-Student Housing Corp., Series A (AGM), 4.63%, 10/01/40 | 1,100 | 948,981 |
| City of New York New York, GO: | | |
| Series A-1, 4.75%, 8/15/25 | 750 | 780,907 |
| Series C, 5.38%, 3/15/12 (b) | 5,000 | 5,220,850 |
| Series D, 5.38%, 6/01/12 (b) | 15 | 15,814 |
| Series D, 5.38%, 6/01/32 | 3,985 | 4,027,520 |
| Sub-Series G-1, 6.25%, 12/15/31 | 500 | 556,960 |
| Sub-Series I-1, 5.38%, 4/01/36 | 1,750 | 1,792,420 |
| Hudson Yards Infrastructure Corp., RB, Series A: | | |
| 5.00%, 2/15/47 | 5,425 | 4,549,188 |
| (NPFGC), 4.50%, 2/15/47 | 970 | 734,300 |
| Metropolitan Transportation Authority, RB, Transportation, Series D, 5.00%, 11/15/34 | 800 | 766,872 |

Municipal Bonds	Par (000)	Value
New York (continued)
County/City/Special District/School District (concluded)
New York City Industrial Development Agency, RB:
CAB,
Yankee Stadium, PILOT (AGC), 6.05%, 3/01/42 (c)	$ 2,210	$ 312,008
Marymount
School of New York Project (ACA), 5.13%, 9/01/21	750	762,750
Marymount
School of New York Project (ACA), 5.25%, 9/01/31	500	478,875
Queens
Baseball Stadium, PILOT (AGC), 6.38%, 1/01/39	150	155,642
Queens
Baseball Stadium, PILOT (AMBAC), 5.00%, 1/01/36	4,900	4,043,725
Queens
Baseball Stadium, PILOT (AMBAC), 5.00%, 1/01/39	500	408,610
Royal
Charter, New York Presbyterian (AGM), 5.25%, 12/15/32	1,550	1,551,627
New York City Transitional Finance Authority, RB:
Fiscal
2009, Series S-3, 5.25%, 1/15/39	650	656,923
Series
S-2 (NPFGC), 4.25%, 1/15/34	1,700	1,507,662
New York Convention Center Development Corp., RB, Hotel Unit Fee Secured (AMBAC), 5.00%, 11/15/44	9,660	8,827,694
New York Liberty Development Corp., Refunding RB, Second Priority, Bank of America Tower at One Bryant Park Project:
5.63%, 7/15/47	2,000	1,909,320
6.38%, 7/15/49	1,200	1,201,128
New York State Dormitory Authority, RB:
Interagency
Council Pooled, Series A-1, 4.25%, 7/01/25	1,000	963,800
State
University Dormitory Facilities, Series A, 5.00%, 7/01/39	750	746,580
New York State Dormitory Authority, Refunding RB, School Districts Financing Program, Series A (AGM), 5.00%, 10/01/35	395	390,592
		43,310,748

Portfolio Abbreviations

To simplify the listings of portfolio holdings in the Schedule of Investments, the names and descriptions of many of the securities have been abbreviated according to the following list:

| ACA | ACA Financial Guaranty
Corp. |
| --- | --- |
| AGC | Assured Guaranty Corp. |
| AGM | Assured Guaranty Municipal
Corp. |
| AMBAC | American Municipal Bond
Assurance Corp. |
| AMT | Alternative Minimum Tax
(subject to) |
| BHAC | Berkshire Hathaway
Assurance Corp. |
| CAB | Capital Appreciation Bonds |
| CIFG | CDC IXIS Financial Guaranty |
| ERB | Education Revenue Bonds |
| FHA | Federal Housing
Administration |
| GO | General Obligation Bonds |
| HFA | Housing Finance Agency |
| LRB | Lease Revenue Bonds |
| MRB | Mortgage Revenue Bonds |
| NPFGC | National Public Finance
Guarantee Corp. |
| PILOT | Payment in Lieu of Taxes |
| RB | Revenue Bonds |
| SONYMA | State of New York Mortgage
Agency |

BLACKROCK NEW YORK MUNICIPAL INCOME TRUST APRIL 30, 2011 1

Schedule of Investments (continued)
(Percentages shown are based on Net Assets)

| Municipal
Bonds | Par (000) | Value |
| --- | --- | --- |
| New York (continued) | | |
| Education
— 27.5% | | |
| Albany Industrial Development Agency, RB, New Covenant Charter School Project, Series A (d)(e): | | |
| 7.00%, 5/01/25 | $ 910 | $ 227,527 |
| 7.00%, 5/01/35 | 590 | 147,518 |
| City of Troy New York, Refunding RB, Rensselaer Polytechnic, Series A, 5.13%, 9/01/40 | 875 | 837,226 |
| Dutchess County Industrial Development Agency New York, Refunding RB, Bard College Civic Facility, Series A-2, 4.50%, 8/01/36 | 7,000 | 5,824,980 |
| Madison County Industrial Development Agency New York, RB: | | |
| Colgate University Project, Series B, 5.00%, 7/01/33 | 2,000 | 2,005,580 |
| Commons II LLC, Student Housing, Series A (CIFG), 5.00%, 6/01/33 | 275 | 236,756 |
| Nassau County Industrial Development Agency, Refunding RB, New York Institute of Technology Project, Series A, 4.75%, 3/01/26 | 1,165 | 1,132,287 |
| New York City Trust for Cultural Resources, Refunding RB, Museum of Modern Art, Series 1A, 5.00%, 4/01/31 | 1,000 | 1,022,350 |
| New York State Dormitory Authority, RB: | | |
| 5.83%, 7/01/39 (f) | 650 | 554,359 |
| Convent of the Sacred Heart (AGM), 5.25%, 11/01/24 | 155 | 160,515 |
| Convent of the Sacred Heart (AGM), 5.63%, 11/01/32 | 750 | 767,565 |
| Convent of the Sacred Heart (AGM), 5.75%, 11/01/40 | 210 | 213,352 |
| Cornell University, Series A, 5.00%, 7/01/40 | 1,000 | 1,017,600 |
| Mount Sinai School of Medicine, 5.13%, 7/01/39 | 2,000 | 1,901,280 |
| The New School (AGM), 5.50%, 7/01/43 | 1,950 | 1,979,308 |
| New School University (NPFGC), 5.00%, 7/01/41 | 9,000 | 8,402,940 |
| New York University, Series 1 (AMBAC), 5.50%, 7/01/40 | 2,190 | 2,294,945 |
| New York University, Series 2 (AMBAC), 5.00%, 7/01/41 | 4,000 | 3,932,400 |
| New York University, Series A (AMBAC), 5.00%, 7/01/37 | 1,000 | 989,850 |
| Rochester Institute of Technology, Series A, 6.00%, 7/01/33 | 1,000 | 1,062,040 |
| University of Rochester, Series A, 5.13%, 7/01/39 | 850 | 850,221 |
| Vassar College, 5.00%, 7/01/49 | 825 | 815,512 |
| New York State Dormitory Authority, Refunding RB: | | |
| Brooklyn Law School, 5.75%, 7/01/33 | 475 | 493,777 |

Municipal Bonds	Par (000)	Value
New York (continued)
Education (concluded)
New York State Dormitory Authority, Refunding RB (concluded):
Skidmore
College, Series A, 5.00%, 7/01/27	$ 190	$ 196,576
Skidmore
College, Series A, 5.00%, 7/01/28	75	76,982
Skidmore
College, Series A, 5.25%, 7/01/29	85	88,252
Teachers
College, 5.50%, 3/01/39	450	456,831
Yeshiva
University, 5.00%, 9/01/34	275	277,032
Suffolk County Industrial Development Agency, Refunding RB, New York Institute of Technology Project, 5.00%, 3/01/26	1,000	992,690
Tompkins County Development Corp., RB, Ithaca College Project (AGM), 5.50%, 7/01/33	700	719,502
Trust for Cultural Resources, RB:
Carnegie
Hall, Series A, 4.75%, 12/01/39	2,250	2,078,055
Juilliard
School, Series A, 5.00%, 1/01/39	2,100	2,110,479
Westchester County Industrial Development Agency New York, RB, Windward School Civic Facility (Radian), 5.25%, 10/01/31	2,500	2,269,875
Yonkers Industrial Development Agency New York, RB, Sarah Lawrence College Project, Series A, 6.00%, 6/01/41	625	630,931
		46,767,093
Health — 7.6%
Dutchess County Local Development Corp., Refunding RB, Health Quest System Inc., Series A, 5.75%, 7/01/40	300	289,698
Genesee County Industrial Development Agency New York, Refunding RB, United Memorial Medical Center Project, 5.00%, 12/01/27	500	392,005
Monroe County Industrial Development Corp., RB, Unity Hospital of Rochester Project (FHA), 5.50%, 8/15/40	1,050	1,054,315
New York State Dormitory Authority, RB:
Hudson Valley Hospital (BHAC), 5.00%, 8/15/36	750	742,508
New York State Association for Retarded Children, Inc., Series A, 6.00%, 7/01/32	575	595,965
New York State Association for Retarded Children, Inc., Series B (AMBAC), 6.00%, 7/01/32	200	207,560
New York University Hospital Center, Series A, 6.00%, 7/01/40	500	501,000
New York University Hospital Center, Series B, 5.63%, 7/01/37	530	514,763
North Shore-Long Island Jewish Health System, 5.50%, 5/01/13 (b)	2,000	2,195,200
North Shore-Long Island Jewish Health System, Series A, 5.50%, 5/01/37	1,775	1,722,478

2 BLACKROCK NEW YORK MUNICIPAL INCOME TRUST APRIL 30, 2011

Schedule of Investments (continued)
(Percentages shown are based on Net Assets)

| Municipal
Bonds | Par (000) | Value |
| --- | --- | --- |
| New York (continued) | | |
| Health (concluded) | | |
| New York State Dormitory Authority, Refunding RB: | | |
| Mount Sinai Hospital, Series A, 5.00%, 7/01/26 | $ 1,385 | $ 1,381,260 |
| North Shore-Long Island Jewish Health System, Series E, 5.50%, 5/01/33 | 1,100 | 1,082,081 |
| Suffolk County Industrial Development Agency New York, Refunding RB, Jeffersons Ferry Project, 5.00%, 11/01/28 | 1,175 | 1,014,389 |
| Westchester County Healthcare Corp. New York, Refunding RB, Senior Lien, Series B, 6.00%, 11/01/30 | 375 | 372,866 |
| Westchester County Industrial Development Agency New York, MRB, Kendal on Hudson Project, Series A, 6.38%, 1/01/24 | 1,000 | 942,970 |
| | | 13,009,058 |
| Housing — 5.1% | | |
| New York Mortgage Agency, Refunding RB, AMT: | | |
| Homeowner Mortgage, Series 97, 5.50%, 4/01/31 | 1,970 | 1,962,829 |
| Series 101, 5.40%, 4/01/32 | 4,465 | 4,387,934 |
| New York State HFA, RB, Highland Avenue Senior Apartments, Series A, AMT (SONYMA), 5.00%, 2/15/39 | 1,500 | 1,303,665 |
| Yonkers Economic Development Corp., Refunding RB, Riverview II (Freddie Mac), 4.50%, 5/01/25 | 1,000 | 970,650 |
| | | 8,625,078 |
| State — 4.8% | | |
| New York State Dormitory Authority, ERB, Series B, 5.75%, 3/15/36 | 600 | 648,012 |
| New York State Dormitory Authority, LRB, Municipal Health Facilities, Sub- Series 2-4, 4.75%, 1/15/30 | 1,850 | 1,791,892 |
| New York State Dormitory Authority, RB, Mental Health Services Facilities Improvement, Series B (AMBAC), 5.00%, 2/15/35 | 4,855 | 4,768,435 |
| State of New York, GO, Series A, 4.75%, 2/15/37 | 1,000 | 992,580 |
| | | 8,200,919 |
| Tobacco — 8.1% | | |
| New York Counties Tobacco Trust III, RB, Tobacco Settlement Pass-Thru, Turbo, 6.00%, 6/01/43 | 6,700 | 5,516,713 |
| Rensselaer Tobacco Asset Securitization Corp., RB, Asset-Backed, Series A, 5.75%, 6/01/43 | 2,500 | 1,982,650 |
| Rockland Tobacco Asset Securitization Corp., RB, Asset-Backed, 5.75%, 8/15/43 | 5,000 | 3,963,400 |
| TSASC Inc. New York, RB, Tobacco Settlement Asset-Backed, Series 1, 5.75%, 7/15/12 (b) | 2,250 | 2,393,550 |
| | | 13,856,313 |

Municipal Bonds	Par (000)	Value
New York (concluded)
Transportation — 23.6%
Hudson Yards Infrastructure Corp., RB (AGC), 5.00%, 2/15/47	$ 1,000	$ 877,630
Metropolitan Transportation Authority, RB, Series 2008C, 6.50%, 11/15/28	1,000	1,124,000
Metropolitan Transportation Authority, Refunding RB:
Series A, 5.00%, 11/15/30	12,000	12,015,600
Series A, 5.13%, 11/15/31	8,000	7,914,640
Transportation, Series F (NPFGC), 5.00%, 11/15/31	1,000	973,680
New York City Industrial Development Agency, RB, Airis JFK I LLC Project, Series A, AMT, 5.50%, 7/01/28	9,000	7,630,380
Port Authority of New York & New
Jersey, RB:
Consolidated, 116th Series, 4.13%, 9/15/32	500	456,420
Consolidated, 161st Series, 4.50%, 10/15/37	500	466,300
JFK International Air Terminal, 6.00%, 12/01/42	1,000	955,600
Special Project, JFK International Air Terminal, Series 6, AMT (NPFGC), 6.25%, 12/01/13	1,000	1,042,760
Special Project, JFK International Air Terminal, Series 6, AMT (NPFGC), 5.75%, 12/01/22	7,000	6,710,060
		40,167,070
Utilities — 13.8%
Long Island Power Authority, RB, General, Series C (CIFG), 5.25%, 9/01/29	2,000	2,096,320
Long Island Power Authority, Refunding RB, Series A, 5.75%, 4/01/39	4,000	4,188,760
New York City Municipal Water Finance Authority, RB:
Election of 2002, Series C, 5.00%, 6/15/32	6,500	6,501,235
Series A (NPFGC), 5.00%, 6/15/32	4,000	4,000,760
Series B, 5.00%, 6/15/36	750	753,322
New York City Municipal Water Finance Authority, Refunding RB:
Second General Resolution, Fiscal 2011, Series BB, 5.00%, 6/15/31	1,000	1,034,010
Series D, 5.00%, 6/15/39	5,000	5,010,800
		23,585,207
Total Municipal Bonds in New York		227,012,285
Guam — 0.9%
State — 0.6%
Territory of Guam, GO, Series A, 7.00%, 11/15/39	970	991,185
Utilities — 0.3%
Guam Government Waterworks Authority, Refunding RB, Water, 5.88%, 7/01/35	600	545,730
Total Municipal Bonds in Guam		1,536,915

BLACKROCK NEW YORK MUNICIPAL INCOME TRUST APRIL 30, 2011 3

Schedule of Investments (continued)
(Percentages shown are based on Net Assets)

| Municipal
Bonds | Par (000) | Value |
| --- | --- | --- |
| Puerto Rico — 12.0% | | |
| County/City/Special District/School
District — 1.1 % | | |
| Puerto Rico Sales Tax Financing Corp., RB: | | |
| CAB, Series A, 6.39%, 8/01/32 (c) | $ 1,685 | $ 421,216 |
| First Sub-Series A (AGM), 5.00%, 8/01/40 | 1,000 | 934,470 |
| Puerto Rico Sales Tax Financing Corp., Refunding RB, CAB, Series A (NPFGC), 5.77%, 8/01/41 (c) | 3,500 | 467,600 |
| | | 1,823,286 |
| Housing — 1.8% | | |
| Puerto Rico Housing Finance Authority, Refunding RB, Subordinate, Capital Fund Modernization, 5.13%, 12/01/27 | 3,000 | 3,012,030 |
| State — 8.1% | | |
| Commonwealth of Puerto Rico, GO, Refunding, Public Improvement, Series C, 6.00%, 7/01/39 | 700 | 685,034 |
| Puerto Rico Highway & Transportation Authority, Refunding RB, Series CC (AGM), 5.50%, 7/01/30 | 2,750 | 2,766,005 |
| Puerto Rico Public Buildings Authority, Refunding RB, Government Facilities, Series D: | | |
| 5.25%, 7/01/12 (b) | 3,400 | 3,584,382 |
| 5.25%, 7/01/36 | 1,600 | 1,405,568 |
| Puerto Rico Public Finance Corp., RB, Commonwealth Appropriation, Series E, 5.50%, 2/01/12 (b) | 3,000 | 3,117,300 |
| Puerto Rico Sales Tax Financing Corp., RB, First Sub-Series A, 5.75%, 8/01/37 | 2,000 | 1,960,000 |
| Puerto Rico Sales Tax Financing Corp., Refunding RB, CAB, Series A (NPFGC), 5.98%, 8/01/43 (c) | 2,500 | 290,375 |
| | | 13,808,664 |
| Transportation — 0.1% | | |
| Puerto Rico Highway & Transportation Authority, Refunding RB, Series AA-1 (AGM), 4.95%, 7/01/26 | 250 | 243,735 |
| Utilities — 0.9% | | |
| Puerto Rico Aqueduct & Sewer Authority, RB, Senior Lien, Series A, 6.00%, 7/01/38 | 1,100 | 1,048,300 |
| Puerto Rico Electric Power Authority, Refunding RB, Series VV (NPFGC), 5.25%, 7/01/29 | 500 | 474,160 |
| | | 1,522,460 |
| Total Municipal Bonds in Puerto Rico | | 20,410,175 |
| Total Municipal Bonds – 146.1% | | 248,959,375 |

| Municipal
Bonds Transferred to Tender Option Bond Trusts (g) | Par (000) | Value |
| --- | --- | --- |
| New York — 12.6% | | |
| Housing — 9.0% | | |
| New York Mortgage Agency, RB, 31st Series A, AMT, 5.30%, 10/01/31 | $ 15,500 | $ 15,252,465 |
| Utilities — 3.6% | | |
| New York City Municipal Water Finance Authority, RB: | | |
| Fiscal 2009, Series A, 5.75%, 6/15/40 | 1,200 | 1,287,203 |
| Series FF-2, 5.50%, 6/15/40 | 810 | 844,192 |
| New York City Municipal Water Finance Authority, Refunding RB, Series A, 4.75%, 6/15/30 | 4,000 | 4,018,800 |
| | | 6,150,195 |
| Total Municipal Bonds Transferred to Tender Option Bond Trusts – 12.6% | | 21,402,660 |
| Total Long-Term Investments (Cost – $278,957,157) – 158.7% | | 270,362,035 |

| Short-Term
Securities — BIF New York Municipal Money Fund, 0.00% (h)(i) | 1,040,628 | 1,040,628 | |
| --- | --- | --- | --- |
| Total Short-Term Securities (Cost – $1,040,628) – 0.6% | | 1,040,628 | |
| Total Investments (Cost – $279,997,785*) – 159.3% | | 271,402,663 | |
| Other Assets Less Liabilities – 2.7% | | 4,560,302 | |
| Liability for Trust Certificates, Including
Interest Expense and Fees Payable – (6.5)% | | (11,094,865 | ) |
| Preferred Shares, at Redemption Value –
(55.5)% | | (94,505,717 | ) |
| Net Assets – 100.0% | $ | 170,362,383 | |

• The cost and unrealized appreciation (depreciation) of investments as of April 30, 2011, as computed for federal income tax purposes, were as follows:

| Aggregate
cost | $ | |
| --- | --- | --- |
| Gross
unrealized appreciation | $ 4,116,486 | |
| Gross
unrealized depreciation | (11,548,230 | ) |
| Net
unrealized depreciation | $ (7,431,744 | ) |

| (a) | Variable
rate security. Rate shown is as of report date. |
| --- | --- |
| (b) | US
government securities, held in escrow, are used to pay interest on this
security as well as to retire the bond in full at the date indicated,
typically at a premium to par. |
| (c) | Represents a
zero-coupon bond. Rate shown reflects the current yield as of report date. |
| (d) | Issuer filed
for bankruptcy and/or is in default of interest payments. |
| (e) | Non-income
producing security. |
| (f) | Represents a
step-up bond that pays an initial coupon rate for the first period and then a
higher coupon rate for the following periods. Rate shown reflects the current
yield as of report date. |
| (g) | Securities
represent bonds transferred to a tender option bond trust in exchange for
which the Trust acquired residual interest certificates. These securities
serve as collateral in a financing transaction. |

4 BLACKROCK NEW YORK MUNICIPAL INCOME TRUST APRIL 30, 2011

Schedule of Investments (continued) BlackRock New York Municipal Income Trust (BNY)

(h) Investments in companies considered to be an affiliate of the Trust during the period, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, as amended, were as follows:

Affiliate — BIF New York Municipal Money Fund	414,030	626,598	1,040,628	—

| (i) | Represents the current
yield as of report date. |
| --- | --- |
| • | For Trust compliance
purposes, the Trust’s sector classifications refer to any one or more of the
sector sub-classifications used by one or more widely recognized market
indexes or ratings group indexes, and/or as defined by Trust management. This
definition may not apply for purposes of this report, which may combine
sector sub-classifications for reporting ease. |
| • | Financial futures contracts
sold as of April 30, 2011 were as follows: |

Contracts	Issue	Exchange	Expiration	Notional Value	Unrealized Depreciation
73	30-Year
U.S. Treasury Bond	Chicago
Board of Trade	June
2011	$ 8,697,205	$ (236,170	)

•
•	Level 1 — price quotations in active
markets/exchanges for identical assets and liabilities
•	Level 2 — other observable inputs (including, but
not limited to: quoted prices for similar assets or liabilities in markets that are
active, quoted prices for identical or similar assets or liabilities in
markets that are not active, inputs other than quoted prices that are
observable for the assets or liabilities (such as interest rates, yield
curves, volatilities, prepayment speeds, loss severities, credit risks and
default rates) or other market-corroborated inputs)
•	Level 3 — unobservable inputs based on the best
information available in the circumstances, to the extent observable inputs
are not available (including the Trust’s own
assumptions used in determining the fair value of investments
and derivative financial instruments)
The inputs or methodologies
used for valuing securities are not necessarily an indication of the risk
associated with investing in those securities. For information about the
Trust’s policy regarding valuation of investments and derivative financial
instruments and other significant accounting policies, please refer to the
Trust’s most recent financial statements as contained in its semi-annual
report.

5 BLACKROCK NEW YORK MUNICIPAL INCOME TRUST APRIL 30, 2011

Schedule of Investments (concluded) BlackRock New York Municipal Income Trust (BNY)

The following tables summarize the inputs used as of April 30, 2011 in determining the fair valuation of the Trust’s investments and derivative financial instruments:

Valuation Inputs	Level 1	Level 2		Total
Assets:
Investments:
Long-Term Investments 1	—	$ 270,362,035	—	$ 270,362,035
Short-Term Securities	$ 1,040,628	—	—	1,040,628
Total	$ 1,040,628	$ 270,362,035	—	$ 271,402,663

1 See above Schedule of Investments for values in each sector.

Valuation Inputs	Level 1				Total
Derivative Financial
Instruments 2
Liabilities:
Interest rate contracts	$ (236,170	)	—	—	$ (236,170	)

2 Derivative financial instruments are financial futures contracts, which are valued at the unrealized appreciation/depreciation on the instrument.

6 BLACKROCK NEW YORK MUNICIPAL INCOME TRUST APRIL 30, 2011

end

Item 2 –	Controls and Procedures
2(a) –	The registrant’s principal executive and principal financial officers or persons performing similar functions have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”)) are effective as of a date within 90 days of the filing of this report
based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act and Rule 13a-15(b) under the Securities Exchange Act of 1934, as amended.
2(b) –	There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the registrant’s last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting.
Item 3 –	Exhibits
	Certifications – Attached hereto
	Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
	BlackRock New York Municipal Income Trust
	By:	/s/ John M. Perlowski
		John M. Perlowski
		Chief Executive Officer of
		BlackRock New York Municipal Income Trust
	Date: June 24, 2011
	Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
	By:	/s/ John M. Perlowski
		John M. Perlowski
		Chief Executive Officer (principal executive officer) of
		BlackRock New York Municipal Income Trust
	Date: June 24, 2011
	By:	/s/ Neal J. Andrews
		Neal J. Andrews
		Chief Financial Officer (principal financial officer) of
		BlackRock New York Municipal Income Trust
	Date: June 24, 2011