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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

Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809

Name and address of agent for service: Robert S. Kapito, President, BlackRock New York Municipal Income Trust,
40 East 52nd Street, New York, NY 10022.

Registrant’s telephone number, including area code: (888) 825-2257

Date of fiscal year end: 10/31/2007

Date of reporting period: 05/01/2007 – 07/31/2007

Item 1 – Schedule of Investments

PORTFOLIO OF INVESTMENTS (unaudited)
JULY 31, 2007
BlackRock New York Municipal Income Trust (BNY)
(Percentages shown are based on Net Assets)

Principal
           
Amount
           
(000)
  Description    
Value
 
      LONG-TERM INVESTMENTS—155.4%        
      Multi-State—11.1%        
      Charter Mac Equity Issuer Trust,        
$
6,000 1    Ser. A-2, 6.30%, 6/30/49  
$
6,184,860  
  5,500 1    Ser. B-1, 6.80%, 11/30/50     5,814,930  
      MuniMae TE Bond Subsidiary LLC,        
  6,000 1    Ser. A-1, 6.30%, 6/30/49     6,177,480  
  3,000      Ser. B-1, 6.80%, 6/30/49       3,168,270  
            21,345,540  
      New York—130.8%        
      Albany Indl. Dev. Agcy., Sch. Impvts. Lease Approp. RB, New Covenant Charter Sch. Proj.,        
 
910
     Ser. A, 7.00%, 5/01/25    
773,409
 
  590      Ser. A, 7.00%, 5/01/35     500,645  
      City of New York, Pub. Impvts. Ad Valorem Ppty. Tax GO,        
  6,000 2    Ser. C, 5.375%, 3/15/12     6,404,760  
  2,200 2    Ser. D, 5.375%, 6/01/12     2,354,572  
  4,000      Ser. D, 5.375%, 6/01/32     4,183,840  
  6,700   Cntys. Tobacco Trust III, Misc. Tobacco Settlement Funded RB, 6.00%, 6/01/43     7,052,487  
  8,000   Convention Ctr. Operating Corp., Recreational Fac. Impvts. Hotel Occupancy        
         Tax RB, Hotel Unit Fee Secured Proj., 5.00%, 11/15/44, AMBAC     8,213,520  
      Dorm. Auth.,        
  4,855      Hlth., Hosp. & Nursing Home Impvts. RB, Mental Hlth. Svcs. Facs. Proj., 5.00%, 2/15/35, AMBAC     4,999,242  
  2,000 2    Hlth., Hosp. & Nursing Home Impvts. RB, North Shore Long Island Jewish Grp. Proj., 5.375%, 5/01/13     2,157,240  
  2,000 2    Hlth., Hosp. & Nursing Home Impvts. RB, North Shore Long Island Jewish Grp. Proj., 5.50%, 5/01/13     2,170,040  
  3,000      Hlth., Hosp. & Nursing Home RB, Mt. Sinai NYU Hlth. Proj., 5.50%, 7/01/26     3,028,410  
  9,000      Univ. & Coll. Impvts. RB, New Sch. Univ. Proj., 5.00%, 7/01/41, MBIA     9,146,700  
  5,000      Univ. & Coll. Impvts. RB, New York Univ. Proj., Ser. 2, 5.00%, 7/01/41, AMBAC     5,081,500  
  7,000   Dutchess Cnty. Indl. Dev. Agcy., Coll. & Univ. RB, Bard Coll. Proj., Ser. A2, 4.50%, 8/01/36     6,487,320  
  500   Genesee Cnty. Indl. Dev. Agcy., Hlth., Hosp. & Nursing Home RB, United        
         Mem. Med. Ctr. Proj., 5.00%, 12/01/27     480,230  
  2,500   Hempstead Town Indl. Dev. Agcy., Univ. & Coll. Impvts. RB, Hofstra Univ.        
         Civic Fac. Proj., 4.50%, 7/01/36     2,385,175  
  850   Hsg. Fin. Agcy., St. Multi-Fam. Hsg. RB, Kensico Terrace Apts. Proj., Ser. B, 4.95%, 2/15/38, AMT     835,516  
      Hudson Yards Infrastructure Corp., Trans. Impvts. Misc. RB,        
  4,400      Ser. A, 4.50%, 2/15/47, MBIA     4,185,720  
  1,000      Ser. A, 5.00%, 2/15/47     1,023,220  
      Liberty Dev. Corp.,        
  7,000      Indl. Impvts. Misc. RB, Goldman Sachs Grp., Inc. Proj., 5.25%, 10/01/35     7,427,140  
  1,740      Recreational Fac. Impvts. RB, Nat. Sports Museum Proj., Ser. A, 6.125%, 2/15/19     1,795,454  
      Long Island Pwr. Auth., Elec., Pwr. & Lt. RB,        
  2,500      Ser. B, 5.00%, 12/01/35, CIFG     2,588,300  
  5,000      Ser. B, 5.00%, 12/01/35     5,158,200  
  2,000   Madison Cnty. Indl. Dev. Agcy., Univ. & Coll. Impvts. RB, Colgate Univ. Proj., Ser. B, 5.00%, 7/01/33     2,056,600  
      Met. Transp. Auth.,        
  12,000      Trans. RB, Ser. A, 5.00%, 11/15/30     12,284,520  
  12,000      Trans. RB, Ser. A, 5.125%, 11/15/31     12,417,240  
      Mtg. Agcy., Local or Gtd. Hsg. RB,        
  5,915      Ser. 101, 5.40%, 4/01/32, AMT     6,005,914  
  15,500      Ser. A, 5.30%, 10/01/31, AMT     15,658,100  
      New York City Indl. Dev. Agcy.,        
  750      Cash Flow Mgmt. Lease RB, Marymount Sch. Proj., 5.125%, 9/01/21, ACA     759,540  
  2,000      Cash Flow Mgmt. Lease RB, Marymount Sch. Proj., 5.25%, 9/01/31, ACA     2,095,540  
  3,000      Coll. & Univ. RB, Polytechnic Univ. Proj., 5.25%, 11/01/37, ACA     3,044,910  
  2,000  
   Econ. Impvts. RB, IAC/Interactive Corp. Proj., 5.00%, 9/01/35
    2,027,260  
  1,550      Indl. Impvts. RB, Royal Charter Presbyterian Proj., 5.25%, 12/15/32, FSA     1,638,319  
  14,850      Port, Arpt. & Marina Impvts. Lease RB, Airis JFK I LLC Proj., Ser. A, 5.50%, 7/01/28, AMT     15,034,734  
  3,200      Port, Arpt. & Marina Impvts. RB, American Airlines, Inc./JFK Intl. Arpt. Proj., 7.625%, 8/01/25, AMT     3,734,560  
  4,000      Port, Arpt. & Marina Impvts. RB, American Airlines, Inc./JFK Intl. Arpt. Proj., 7.75%, 8/01/31, AMT     4,703,560  
  5,000      Recreational Fac. Impvts. RB, Queens Baseball Stad. Pilot Proj., 5.00%, 1/01/36, AMBAC     5,193,900  
  1,500      Recreational Fac. Impvts. RB, Queens Baseball Stad. Pilot Proj., 5.00%, 1/01/39, AMBAC     1,557,000  
  4,500      Recreational Fac. Impvts. RB, Yankee Stad. Pilot Proj., 5.00%, 3/01/36, MBIA     4,669,470  
      New York City Mun. Wtr. Fin. Auth.,        
  4,000      Cash Flow Mgmt. Wtr. RB, Ser. A, 5.00%, 6/15/32, FGIC     4,078,680  
  2,750      Wtr. & Swr. Sys., Wtr. Swr. RB, Second Gen. Resolution Proj., Ser. A, 4.50%, 6/15/37, MBIA     2,670,662  
  1,500      Wtr. RB, Ser. A, 4.25%, 6/15/39, FSA     1,385,025  
  6,500       Wtr. RB, Ser. C, 5.00%, 6/15/32     6,662,695  
  5,000       Wtr. RB, Ser. D, 5.00%, 6/15/39     5,149,550  
  1,500  
   Wtr. Util. Impvts. Wtr. RB, Ser. D, 5.00%, 6/15/38
    1,548,750  
         New York City Transl. Fin. Auth.,        
 
500
      Bldg. Aid Pub. Impvts. Misc. Tax RB, Ser. S-1, 5.00%, 7/15/31, FGIC    
521,810
 
 
1,700
      Bldg. Aid RB, Ser. S-2, 4.25%, 1/15/34, FGIC    
1,583,839
 
 
1,495
2
     Pub. Impvts. Income Tax RB, 5.00%, 5/01/09    
1,542,272
  
 
  Port Auth. of New York & New Jersey,    
 
   
  Port, Arpt. & Marina Impvts. RB,    
 
 
9,250
 
   Contl. Airlines Proj., 9.125%, 12/01/15, AMT
    
9,639,887
  
 
7,000
      JFK Intl. Air Term. LLC Proj., 5.75%, 12/01/22, MBIA, AMT    
7,175,700
 

1

BlackRock New York Municipal Income Trust (BNY) (continued)
(Percentages shown are based on Net Assets)


Principal
           
Amount
           
(000)
  Description    
Value
 
      New York—(cont'd)        
$ 2,500   Rensselaer Tobacco Sec. Corp., Misc. Tobacco Settlement Funded RB, Ser. A, 5.75%, 6/01/43  
$
2,574,250
  5,000   Rockland Tobacco Asset Sec. Corp., Misc. Tobacco Settlement Funded RB, 5.75%, 8/15/43    
5,154,100
 
  1,000   State of New York, Rec. Recovery Impvts. GO., Ser. A, 4.125%, 3/01/37, FGIC     898,560  
      Suffolk Cnty. Indl. Dev. Agcy.,        
  1,175      Hlth., Hosp. & Nursing Home RB, Active Retirement Cmnty. Proj., 5.00%, 11/01/28     1,159,772  
  7,000      Indl. Impvts. RB, Keyspan-Port Jefferson Proj., 5.25%, 6/01/27, AMT     7,204,750  
      TSASC, Inc.,        
  2,000 2    Cash Flow Mgmt. Tobacco Settlement Funded RB, Ser. 1, 6.375%, 7/15/09    
2,117,740
 
  5,000 2    Rec. Recovery Impvts. Tobacco Settlement Funded RB, Ser. 1, 5.75%, 7/15/12     5,422,450  
  2,500   Westchester Cnty. Indl. Dev. Agcy., Private Primary Schs. RB, Winward Sch. Civic Fac. Proj., 5.25%, 10/01/31, RAA     2,569,400  
  2,000 2
Westchester Tobacco Asset Sec., Cash Flow Mgmt. Tobacco Settlement Funded RB, 6.75%, 7/15/10
    2,183,560  
     
    252,557,259  
     
Puerto Rico—13.5%
       
  4,060  
Children's Trust Fund, Tobacco Settlement Funded RB, 5.625%, 5/15/43
    4,096,012  
     
Pub. Bldgs. Auth., Pub. Impvts. Lease RB,
       
  4,400 2
   Ser. D, 5.25%, 7/01/12
    4,661,272  
  1,600  
   Ser. D, 5.25%, 7/01/36
    1,650,208  
     
Pub. Fin. Corp., Cash Flow Mgmt. Misc. RB,
       
  7,475 2
   Ser. E, 5.50%, 2/01/12
    7,984,272  
  7,000 2
   Ser. E, 5.70%, 2/01/10
    7,315,560  
  400  
Tax Fing., Sales Tax RB, Ser. A, 5.25%, 8/01/57
       
     
   
    419,020  
     
    26,126,344  
     
Total Long-Term Investments (cost $290,555,428)
   
300,029,143
  
     
 
      
Shares
       
(000)
       
     
MONEY MARKET FUNDS—0.2%
       
  336 3,4
CMA New York Mun. Money Fund, 3.07% (cost $335,832)
    335,832  
Total Investments —155.6% (cost $290,891,2605)   $ 300,364,975  
Other assets in excess of liabilities —1.3%
    2,537,558  
Preferred shares at redemption value, including dividends payable —(56.9)%
    (109,791,548  )
Net Assets Applicable to Common Shareholders —100%
  $ 193,110,985  

 
 
1     

Security is not registered under the Securities Act of 1933. These securities may be resold in transactions in accordance with Rule 144A under that Act, to qualified institutional buyers. As of July 31, 2007, the Trust held 9.4% of its net assets, with a current market value of $18,177,270, in securities restricted as to resale.
 
2     

This bond is prerefunded. U.S. government securities, held in escrow, are used to pay interest on this security, as well as retire the bond in full at the date indicated, typically at a premium to par.
 
3     

Represents an investment in an affiliate.
 
4     

Represents current yield as of July 31, 2007.
 
5     

Cost for federal income tax purposes is $290,891,941. The net unrealized appreciation on a tax basis is $9,473,034, consisting of $11,061,188 gross unrealized appreciation and $1,588,154 gross unrealized depreciation.
 

 
KEY TO ABBREVIATIONS
 ACA  —  American Capital Access
AMBAC  —  American Municipal Bond Assurance Corp.
 AMT  —  Subject to Alternative Minimum Tax
CIFG  —  CDC IXIS Financial Guaranty
FGIC  —  Financial Guaranty Insurance Co.
 FSA  —  Financial Security Assurance
 GO  —  General Obligation
MBIA  —  Municipal Bond Insurance Assoc.
 RAA  —  Radian Asset Assurance
RB  —  Revenue Bond
 

2

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 and 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 (17 CFR 270.30a-3(d)) 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 Investment Quality Municipal Trust, Inc.  
       
  By: /s/ Donald C. Burke  
    Donald C. Burke,  
    Treasurer of  
    BlackRock Investment Quality Municipal Trust, Inc.
       
  Date: September 20, 2007  

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/ Robert S. Kapito  
    Robert S. Kapito,  
    President (principal executive officer) of  
    BlackRock Investment Quality Municipal Trust, Inc.
       
  Date: September 20, 2007  
     
     
  By: /s/ Donald C. Burke  
    Donald C. Burke,  
    Treasurer (principal financial officer) of  
    BlackRock Investment Quality Municipal Trust, Inc.
       
  Date: September 20, 2007