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:    Donald C. Burke, Chief Executive Officer, BlackRock New York Municipal Income Trust, 800 Scudders Mill Road, Plainsboro, NJ, 08536. Mailing address: P.O. Box 9011, Princeton, NJ, 08543-9011

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

Date of fiscal year end:    10/31/2008

Date of reporting period:    11/01/2007 – 01/31/2008


Item 1 – Schedule of Investments


BlackRock New York Municipal Income Trust    
Schedule of Investments as of January 31, 2008 (Unaudited)   (in Thousands)
    Face          
    Amount   Municipal Bonds   Value  
New York - 132.8%                 $ 910       Albany, New York, IDA, Civic Facility Revenue Bonds (New Covenant Charter School Project),
Series A ,7% due 5/01/2025 		$ 750   
      590   Albany, New York, IDA, Civic Facility Revenue Bonds (New Covenant Charter School Project),
Series A, 7% due 5/01/2035 		  477  
      7,000   Dutchess County, New York, IDA, Civic Facility Revenue Refunding Bonds (Bard College),
Series A-2, 4.50% due 8/01/2036 		  6,634  
      500   Genesee County, New York, IDA, Civic Facility Revenue Refunding Bonds (United Memorial
Medical Center Project), 5% due 12/01/2027 		  448  
      4,900   Hudson Yards Infrastructure Corporation, New York, Revenue Bonds, Series A,
4.50% due 2/15/2047 (f) 		  4,667  
      1,000   Hudson Yards Infrastructure Corporation, New York, Revenue Bonds, Series A, 5% due 2/15/2047   988  
      5,000   Long Island Power Authority, New York, Electric System Revenue Refunding Bonds, Series B,
5% due 12/01/2035 		  5,133  
      2,500   Long Island Power Authority, New York, Electric System Revenue Refunding Bonds, Series B,
5% due 12/01/2035 (c) 		  2,575  
      2,000   Madison County, New York, IDA, Civic Facility Revenue Bonds (Colgate University Project), Series B,
5% due 7/01/2033 		  2,055  
      700   Madison County, New York, IDA, Civic Facility Revenue Bonds (Commons II LLC - Student Housing),
Series A, 5% due 6/01/2033 (c) 		  692  
            12,000   Metropolitan Transportation Authority, New York, Dedicated Tax Fund Revenue Refunding Bonds,
Series A, 5% due 11/15/2030 		         12,271  
      12,000   Metropolitan Transportation Authority, New York, Revenue Refunding Bonds, Series A,
5.125% due 11/15/2031 		  12,231  
      5,000   New York City, New York, City IDA, PILOT Revenue Bonds (Queens Baseball Stadium Project),
5% due 1/01/2036 (b) 		  5,025  
      1,500   New York City, New York, City IDA, PILOT Revenue Bonds (Queens Baseball Stadium Project),
5% due 1/01/2039 (b) 		  1,506  
      1,000   New York City, New York, City IDA, PILOT Revenue Bonds (Queens Baseball Stadium Project),
5% due 1/01/2046 (b) 		  998  
      1,000   New York City, New York, City IDA, PILOT Revenue Bonds (Yankee Stadium Project),
5% due 3/01/2036 (f) 		  1,005  
      3,500   New York City, New York, City IDA, PILOT Revenue Bonds (Yankee Stadium Project),
5% due 3/01/2046 (d) 		  3,494  
      1,550   New York City, New York, City IDA, Parking Facility Revenue Bonds (Royal Charter Properties Inc.-      
          The New York and Pennsylvania Hospital Leasehold Project), 5.25% due 12/15/2032 (e)   1,661  
      2,000   New York City, New York, City IDA, Revenue Bonds (IAC/InterActiveCorp Project), 5% due 9/01/2035   1,813  
      3,200   New York City, New York, City IDA, Special Facility Revenue Bonds (American Airlines, Inc. - JFK      
          International Airport), AMT, 7.625% due 8/01/2025   3,422  
      4,000   New York City, New York, City IDA, Special Facility Revenue Bonds (Continental Airlines Inc. Project),
AMT, 7.75% due 8/01/2031 		  4,313  
      2,750   New York City, New York, City Municipal Water Finance Authority, Second General Resolution, Water and Sewer      
          System Revenue Bonds, Series AA, 4.50% due 6/15/2037 (f)   2,654  
      4,000   New York City, New York, City Municipal Water Finance Authority, Water and Sewer System Revenue Bonds,      
          Series A, due 6/15/2032 (d)   4,068  
      1,250   New York City, New York, City Municipal Water Finance Authority, Water and Sewer System Revenue Bonds,      
          Series A, 4.25% due 6/15/2039 (e)   1,180  
      1,500   New York City, New York, City Municipal Water Finance Authority, Water and Sewer System Revenue Bonds,
Series D, 5% due 6/15/2038 		  1,546  
      6,500   New York City, New York, City Municipal Water Finance Authority, Water and Sewer System, Revenue      
          Refunding Bonds, Series C, 5% due 6/15/2032   6,723  
Portfolio Abbreviations      
To simplify the listings of BlackRock New York Municipal Income Trust, portfolio  holdings in the Schedule of Investments, we have abbreviated the names of many of the securities  accordin g to the list below.      
AMT Alternative Minimum Tax (subject to)   IDR Industrial Development Revenue Bonds
GO General Obligations Bonds   M/F Multi-Family
HFA Housing Finance Agency   PILOT Payment in Lieu of Taxes
IDA Industrial Development Authority   TFABS Tobacco Flexible Amortization Bonds

1

BlackRock New York Municipal Income Trust    
Schedule of Investments as of January 31, 2008 (Unaudited)   (in Thousands)
    Face          
    Amount   Municipal Bonds   Value  
                                         $ 5,000       New York City, New York, City Municipal Water Finance Authority, Water and Sewer System, Revenue Refunding      
        Bonds, Series D, 5% due 6/15/2039 $ 5,152   
    500   New York City, New York, City Transitional Finance Authority, Building Aid Revenue Bonds, Series S-1,
5% due 7/15/2031 (d) 		  516  
    1,700   New York City, New York, City Transitional Finance Authority, Building Aid Revenue Bonds, Series S-2,
4.25% due 1/15/2034 (d) 		  1,578  
    1,495   New York City, New York, City Transitional Finance Authority, Future Tax Secured Revenue Bonds, Series C,
5% due 5/01/2009 (g) 		  1,564  
    6,000   New York City, New York, GO, Series C, 5.375% due 3/15/2012 (g)   6,650  
    2,200   New York City, New York, GO, Series D, 5.375% due 6/01/2012 (g)   2,449  
    4,000   New York City, New York, GO, Series D, 5.375% due 6/01/2032   4,135  
    750   New York City, New York, IDA, Civic Facility Revenue Bonds (Marymount School of New York Project),
5.125% due 9/01/2021 (a) 		  727  
    2,000   New York City, New York, IDA, Civic Facility Revenue Bonds (Marymount School of New York Project),
5.25% due 9/01/2031 (a) 		  1,791  
    3,000   New York City, New York, IDA, Civic Facility Revenue Refunding Bonds (Polytechnic University),
5.25% due 11/01/2037 (a) 		  2,622  
    14,850   New York City, New York, IDA, Special Airport Facility Revenue Bonds (Aero JFK I, LLC Project), AMT,
Series A, 5.50% due 7/01/2028 		  13,974  
           10,010   New York Convention Center Development Corporation, New York, Revenue Bonds (Hotel Unit Fee Secured),
5% due 11/15/2044 (b) 		        10,177  
    6,700   New York Counties Tobacco Trust III, Tobacco Settlement Pass-Through Bonds, 6% due 6/01/2043   6,877  
    7,000   New York Liberty Development Corporation Revenue Bonds (Goldman Sachs Headquarters), 5.25% due 10/01/2035   7,347  
    1,740   New York Liberty Development Corporation Revenue Bonds (National Sports Museum Project), Series A,
6.125% due 2/15/2019 		  1,732  
    4,855   New York State Dormitory Authority, Mental Health Services Facilities Improvement, Revenue Bonds, Series B,
5% due 2/15/2035 (b) 		  4,962  
    500   New York State Dormitory Authority, Non-State Supported Debt Revenue Bonds (Manhattan College), Series B,
5.30% due 7/01/2037 (h) 		  507  
    530   New York State Dormitory Authority, Non-State Supported Debt Revenue Bonds (New York University Hospitals      
        Center), Series B, 5.625% due 7/01/2037   528  
    3,000   New York State Dormitory Authority, Non-State Supported Debt, Revenue Refunding Bonds      
        (Mount Sinai-NYU Medical Center Health System), Series C, 5.50% due 7/01/2026   3,015  
    1,000   New York State Dormitory Authority, Non-State Supported Debt, Revenue Refunding Bonds      
        (Mount Sinai School of Medicine of New York University), 5% due 7/01/2035 (f)   1,016  
    9,000   New York State Dormitory Authority Revenue Bonds (New School University), 5% due 7/01/2041 (f)   9,050  
    5,000   New York State Dormitory Authority Revenue Bonds (New York University), Series 2, 5% due 7/01/2041 (b)   5,064  
    2,000   New York State Dormitory Authority Revenue Bonds (North Shore - Long Island Jewish Health System),
5.375% due 5/01/2013 (g) 		  2,260  
    2,000   New York State Dormitory Authority Revenue Bonds (North Shore - Long Island Jewish Health System),
5.50% due 5/01/2013 (g) 		  2,272  
    850   New York State, HFA, M/F Housing Revenue Bonds (Kensico Terrace Apartments), AMT, Series B,
4.95% due 2/15/2038 		  818  
    15,500   New York State Mortgage Agency, Homeowner Mortgage Revenue Bonds, AMT, 31st Series A, 5.30% due 10/01/2031   15,562  
    5,560   New York State Mortgage Agency Revenue Bonds, AMT, Series 101, 5.40% due 4/01/2032   5,605  
    1,175   New York State Thruway Authority, General Revenue Refunding Bonds, Series H, 5% due 1/01/2037 (d)   1,221  
    8,815   Port Authority of New York and New Jersey, Special Obligation Revenue Bonds (Continental Airlines, Inc. - LaGuardia      
        Project), AMT, 9.125% due 12/01/2015   9,144  
    7,000   Port Authority of New York and New Jersey, Special Obligation Revenue Bonds (JFK International Air Terminal), AMT,      
        Series 6, 5.75% due 12/01/2022 (f)   7,149  
    2,500   Rensselaer Tobacco Asset Securitization Corporation, New York, Tobacco Settlement Asset-Backed Revenue Bonds,      
        Series A, 5.75% due 6/01/2043   2,531  

2

BlackRock New York Municipal Income Trust    
Schedule of Investments as of January 31, 2008 (Unaudited)   (in Thousands)

      Face          
      Amount   Municipal Bonds   Value  
    $           5,000       Rockland Tobacco Asset Securitization Corporation, New York, Tobacco Settlement Asset-Backed Revenue Bonds,      
          5.75% due 8/15/2043 $ 5,065  
      1,175   Suffolk County, New York, IDA, Continuing Care and Retirement, Revenue Refunding Bonds (Jeffersons Ferry      
          Project), 5% due 11/01/2028   1,103  
      7,000   Suffolk County, New York, IDA, IDR (Keyspan-Port Jefferson), AMT, 5.25% due 6/01/2027   7,038  
      5,000   TSASC, Inc., New York, TFABS, Series 1, 5.75% due 7/15/2012 (g)   5,647  
      2,000   TSASC, Inc., New York, TFABS, Series 1, 6.375% due 7/15/2009 (g)   2,140  
      2,500   Westchester County, New York, IDA, Civic Facilities Revenue Bonds (Windward School Civic Facility),
5.25% due 10/01/2031 (h) 		  2,515  
      2,000   Westchester Tobacco Asset Securitization Corporation, New York, Revenue Bonds, 6.75% due 7/15/2010 (g)   2,229  
Puerto Rico - 11.1%                    4,400   Puerto Rico Public Buildings Authority, Government Facilities Revenue Refunding Bonds, Series D,
5.25% due 7/01/2012 (g) 		  4,853  
      1,600   Puerto Rico Public Buildings Authority, Government Facilities Revenue Refunding Bonds, Series D,
5.25% due 7/01/2036 		  1,579  
      7,475   Puerto Rico Public Finance Corporation, Commonwealth Appropriation Revenue Bonds, Series E,
5.50% due 2/01/2012 (g) 		  8,266  
      6,000   Puerto Rico Public Finance Corporation, Commonwealth Appropriation Revenue Bonds, Series E,
5.70% due 2/01/2010 (g) 		  6,376  
          Total Municipal Bonds (Cost - $267,615) - 143.9%       273,135  
          Corporate Bonds      
Multi-State - 11.4%     6,000   Charter Mac Equity Issuer Trust, 6.30% due 6/30/2049 (i)   6,269  
      5,500   Charter Mac Equity Issuer Trust, 6.80% due 11/30/2050 (i)   6,013  
      6,000   MuniMae TE Bond Subsidiary LLC, 6.30% due 6/30/2049 (i)   6,221  
      3,000   MuniMae TE Bond Subsidiary LLC, 6.80% due 6/30/2050 (i)   3,226  
          Total Corporate Bonds (Cost - $20,503) - 11.4%   21,729  
          Short-Term Securities      
      2,153   CMA New York Municipal Money Fund 2.04% (j)(k)   2,153  
          Total Short-Term Securities (Cost - $2,153) - 1.1%   2,153  
          Total Investments (Cost - $290,271*) - 156.4%   297,017  
          Other Assets Less Liabilities - 1.4%   2,611  
          Preferred Shares, at Redemption Value - (57.8%)   (109,801 )
          Net Assets Applicable to Common Shares- 100.0% $ 189,827  

* The cost and unrealized appreciation (depreciation) of investments as of January 31, 2008,  
  as computed for federal income tax purposes, were as follows:        
  Aggregate cost   $ 291,050  
  Gross unrealized appreciation   $ 9,686  
  Gross unrealized depreciation     (3,719 )
  Net unrealized appreciation   $ 5,967  

(a)   

ACA Insured.
(b)

AMBAC Insured.
(c)

CIFG Insured.
(d)

FGIC Insured.
(e)

FSA Insured.
(f)

MBIA Insured.
(g)

Prerefunded.
(h)

Radian Insured.
(i)

The security may be offered and sold to "qualified institutional buyers" under Rule 144A of the Securities Act of 1933.

3

BlackRock New York Municipal Income Trust    
Schedule of Investments as of January 31, 2008 (Unaudited)   (in Thousands)

(j)    Investments in companies considered to be an affiliate of the Trust, for purposes of Section  
  2(a)(3) of the Investment Company Act of 1940, were as follows:  
    Net   Dividend  
  Affiliate Activity   Income  
  CMA New York Municipal Money Fund 2,106   $11  
(k) Represents the current yield as of January 31, 2008.      
• Forward interest rate swaps outstanding as of January 31, 2008 were as follows:      
    Notional   Unrealized  
    Amount   (Depreciation)  
  Pay a fixed rate of 3.841% and receive a floating rate      
  based on 1-week (SIFMA) Municipal Swap Index rate      
 
  Broker, Citibank NA        
  Expires March 2033 $6,000   $(93)

 

4


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/ Donald C. Burke
    Donald C. Burke
    Chief Executive Officer of
    BlackRock New York Municipal Income Trust
     
Date: March 24, 2008

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/ Donald C. Burke
    Donald C. Burke
    Chief Executive Officer (principal executive officer) of
BlackRock New York Municipal Income Trust
 
Date: March 24, 2008
 
By:   /s/ Neal J. Andrews
    Neal J. Andrews
    Chief Financial Officer (principal financial officer) of
BlackRock New York Municipal Income Trust
 
Date: March 24, 2008