Form N-Q

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549

FORM N-Q


QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number         811-5238         

        Nuveen New York Municipal Value Fund, Inc.         
(Exact name of registrant as specified in charter)

Nuveen Investments
        333 West Wacker Drive, Chicago, Illinois 60606         
(Address of principal executive offices) (Zip code)


Kevin J. McCarthy Vice President and Secretary
        333 West Wacker Drive, Chicago, Illinois 60606         
(Name and address of agent for service)

Registrant's telephone number, including area code:         312-917-7700        

Date of fiscal year end:            9/30          

Date of reporting period:         6/30/08         

Form N-Q is to be used by management investment companies, other than small business investment companies registered on Form N-5 (§§ 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than 60 days after the close of the first and third fiscal quarters, pursuant to rule 30b1-5 under the Investment Company Act of 1940 (17 CFR 270.30b1-5). The Commission may use the information provided on Form N-Q in its regulatory, disclosure review, inspection, and policymaking roles.

A registrant is required to disclose the information specified by Form N-Q, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-Q unless the Form displays a currently valid Office of Management and Budget ("OMB") control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.

Item 1. Schedule of Investments

    Portfolio of Investments (Unaudited)             
    Nuveen New York Municipal Value Fund, Inc. (NNY)             
    June 30, 2008             
Principal        Optional Call         
Amount (000)    Description (1)    Provisions (2)    Ratings (3)    Value 
    Consumer Discretionary – 1.3% (1.3% of Total Investments)             
$            275    New York City Industrial Development Agency, New York, Liberty Revenue Bonds,    9/15 at 100.00    Baa3   $   229,653 
     IAC/InterActiveCorp, Series 2005, 5.000%, 9/01/35             
1,950    Seneca Nation of Indians Capital Improvements Authority, New York, Special Obligation Bonds,    6/17 at 100.00    BB    1,706,504 
     Series 2007A, 5.000%, 12/01/23             
2,225    Total Consumer Discretionary            1,936,157 
    Consumer Staples – 1.4% (1.4% of Total Investments)             
265    New York Counties Tobacco Trust II, Tobacco Settlement Pass-Through Bonds, Series 2001,    6/11 at 101.00    BBB    251,323 
     5.250%, 6/01/25             
415    Puerto Rico, The Children’s Trust Fund, Tobacco Settlement Asset-Backed Refunding Bonds,    5/12 at 100.00    BBB    391,374 
     Series 2002, 5.375%, 5/15/33             
195    Rensselaer Tobacco Asset Securitization Corporation, New York, Tobacco Settlement Asset-Backed    6/12 at 100.00    BBB    183,889 
     Bonds, Series 2001A, 5.200%, 6/01/25             
    TSASC Inc., New York, Tobacco Asset-Backed Bonds, Series 2006:             
1,005     4.750%, 6/01/22    6/16 at 100.00    BBB    926,791 
345     5.000%, 6/01/26    6/16 at 100.00    BBB    312,908 
2,225    Total Consumer Staples            2,066,285 
    Education and Civic Organizations – 9.9% (10.0% of Total Investments)             
275    Albany Industrial Development Agency, New York, Revenue Bonds, Albany Law School,    7/17 at 100.00    BBB    251,980 
     Series 2007A, 5.000%, 7/01/31             
115    Albany Industrial Development Agency, New York, Revenue Bonds, Brighter Choice Charter    4/17 at 100.00    N/R    98,143 
     Schools, Series 2007A, 5.000%, 4/01/37             
90    Cattaraugus County Industrial Development Agency, New York, Revenue Bonds, St. Bonaventure    5/16 at 100.00    BBB–    84,040 
     University, Series 2006, 5.000%, 5/01/23             
1,175    Dormitory Authority of the State of New York, General Revenue Bonds, Manhattan College,    7/17 at 100.00    A    1,129,163 
     Series 2007A, 5.000%, 7/01/41 – RAAI Insured             
800    Dormitory Authority of the State of New York, Insured Revenue Bonds, D’Youville College,    7/11 at 102.00    A    803,488 
     Series 2001, 5.250%, 7/01/20 – RAAI Insured             
505    Dormitory Authority of the State of New York, Lease Revenue Bonds, State University Dormitory    7/15 at 100.00    AA    514,252 
     Facilities, Series 2004A, 5.000%, 7/01/29 – MBIA Insured             
615    Dormitory Authority of the State of New York, Revenue Bonds, City University of New York,    No Opt. Call    AA–    684,538 
     Series 2005A, 5.500%, 7/01/18 – FGIC Insured             
1,250    Dormitory Authority of the State of New York, Revenue Bonds, Marymount Manhattan College,    7/09 at 101.00    A    1,282,888 
     Series 1999, 6.250%, 7/01/29 – RAAI Insured             
750    Dormitory Authority of the State of New York, Revenue Bonds, Pratt Institute, Series 1999,    7/09 at 102.00    A    761,078 
     6.000%, 7/01/24 – RAAI Insured             
    Dormitory Authority of the State of New York, Second General Resolution Consolidated Revenue             
    Bonds, City University System, Series 1993A:             
1,000     5.750%, 7/01/18    No Opt. Call    AA–    1,095,400 
1,400     6.000%, 7/01/20    No Opt. Call    AA–    1,576,484 
575    Dutchess County Industrial Development Agency, New York, Civic Facility Revenue Bonds, Bard    8/17 at 100.00    A3    521,387 
     College Project, Series 2007-A2, 4.500%, 8/01/36             
265    Hempstead Town Industrial Development Agency, New York, Revenue Bonds, Adelphi University,    10/15 at 100.00    A–    264,197 
     Civic Facility Project, Series 2005, 5.000%, 10/01/35             
1,650    New York City Industrial Development Agency, New York, Civic Facility Revenue Bonds, Horace    No Opt. Call    AAA    1,382,549 
     Mann School, Series 2002, 4.290%, 7/01/41 – MBIA Insured (4)             
245    New York City Industrial Development Agency, New York, Civic Facility Revenue Bonds,    10/14 at 100.00    A–    235,296 
     St. Francis College, Series 2004, 5.000%, 10/01/34             
1,100    New York City Industrial Development Agency, New York, Civic Facility Revenue Bonds,    2/11 at 100.00    A–    1,116,236 
     YMCA of Greater New York, Series 2002, 5.250%, 8/01/21             
1,175    New York City Industrial Development Agency, New York, PILOT Revenue Bonds, Queens Baseball    1/17 at 100.00    AA    1,115,604 
     Stadium Project, Series 2006, 4.750%, 1/01/42 – AMBAC Insured             
1,610    New York City Industrial Development Authority, New York, PILOT Revenue Bonds, Yankee Stadium    9/16 at 100.00    BBB–    1,411,326 
     Project, Series 2006, 4.500%, 3/01/39 – FGIC Insured             
170    Seneca County Industrial Development Authority, New York, Revenue Bonds, New York Chiropractic    10/17 at 100.00    BBB    161,381 
     College, Series 2007, 5.000%, 10/01/27             
14,765    Total Education and Civic Organizations            14,489,430 
    Financials – 1.2% (1.3% of Total Investments)             
400    Liberty Development Corporation, New York, Goldman Sachs Headquarter Revenue Bonds,    No Opt. Call    AA–    412,340 
     Series 2005, 5.250%, 10/01/35             
1,305    Liberty Development Corporation, New York, Goldman Sachs Headquarters Revenue Bonds    No Opt. Call    AA–    1,389,982 
     Series 2007, 5.500%, 10/01/37             
1,705    Total Financials            1,802,322 
    Health Care – 12.0% (12.2% of Total Investments)             
490    Cattaraugus County Industrial Development Agency, New York, Revenue Bonds, Olean General    8/08 at 102.00    A+    495,370 
     Hospital, Series 1998A, 5.250%, 8/01/23             
1,005    Dormitory Authority of the State of New York, FHA-Insured Mortgage Revenue Bonds, Montefiore    2/15 at 100.00    N/R    964,478 
     Hospital, Series 2004, 5.000%, 8/01/29 – FGIC Insured             
700    Dormitory Authority of the State of New York, FHA-Insured Revenue Bonds, Montefiore Medical    2/15 at 100.00    N/R    697,235 
     Center, Series 2005, 5.000%, 2/01/22 – FGIC Insured             
1,800    Dormitory Authority of the State of New York, FHA-Insured Revenue Bonds, St. Lukes Roosevelt    8/15 at 100.00    AA    1,805,922 
     Hospital, Series 2005, 4.900%, 8/15/31             
1,250    Dormitory Authority of the State of New York, Revenue Bonds, Catholic Health Services of Long    7/10 at 101.00    Baa1    1,291,563 
     Island Obligated Group – St. Catherine of Siena Medical Center, Series 2000A, 6.500%, 7/01/20             
2,350    Dormitory Authority of the State of New York, Revenue Bonds, Memorial Sloan Kettering Cancer    7/16 at 100.00    AA    2,379,375 
     Center, Series 2006-1, 5.000%, 7/01/35             
1,000    Dormitory Authority of the State of New York, Revenue Bonds, Mount Sinai NYU Health Obligated    7/10 at 101.00    Baa1    1,030,370 
     Group, Series 2000A, 6.500%, 7/01/25             
250    Dormitory Authority of the State of New York, Revenue Bonds, Mount Sinai NYU Health,    7/08 at 100.00    Baa1    249,975 
     Series 2000C, 5.500%, 7/01/26             
1,595    Dormitory Authority of the State of New York, Revenue Bonds, New York and Presbyterian    8/14 at 100.00    AAA    1,724,147 
     Hospital, Series 2004A, 5.250%, 8/15/15 – FSA Insured             
500    Dormitory Authority of the State of New York, Revenue Bonds, South Nassau Communities    7/13 at 100.00    Baa1    503,470 
     Hospital, Series 2003B, 5.500%, 7/01/23             
500    Dormitory Authority of the State of New York, Revenue Bonds, Winthrop-South Nassau University    7/13 at 100.00    Baa1    492,795 
     Hospital Association, Series 2003A, 5.500%, 7/01/32             
290    Livingston County Industrial Development Agency, New York, Civic Facility Revenue Bonds,    7/10 at 100.00    BB    274,935 
     Nicholas H. Noyes Hospital, Series 2005, 6.000%, 7/01/30             
    Madison County Industrial Development Agency, New York, Civic Facility Revenue Bonds,             
    Oneida Health System, Series 2007A:             
280     5.250%, 2/01/27    No Opt. Call    BBB–    262,912 
260     5.500%, 2/01/32    No Opt. Call    BBB–    244,002 
470    Nassau County Industrial Development Agency, New York, Revenue Refunding Bonds, North Shore    No Opt. Call    A3    487,244 
     Health System Obligated Group, Series 2001B, 5.875%, 11/01/11             
500    New York City Health and Hospitals Corporation, New York, Health System Revenue Bonds,    2/09 at 101.00    AA    508,420 
     Series 1999A, 5.125%, 2/15/14 – AMBAC Insured             
    New York City Health and Hospitals Corporation, New York, Health System Revenue Bonds,             
    Series 2003A:             
1,175     5.250%, 2/15/21 – AMBAC Insured    2/13 at 100.00    AA    1,202,989 
1,000     5.250%, 2/15/22 – AMBAC Insured    2/13 at 100.00    AA    1,021,320 
485    New York City Industrial Development Agency, New York, Civic Facility Revenue Bonds, Staten    7/12 at 100.00    B2    465,542 
     Island University Hospital, Series 2001B, 6.375%, 7/01/31             
245    New York City Industrial Development Agency, New York, Civic Facility Revenue Bonds, Staten    7/12 at 101.00    B2    236,971 
     Island University Hospital, Series 2002C, 6.450%, 7/01/32             
825    Newark-Wayne Community Hospital, New York, Hospital Revenue Refunding and Improvement Bonds,    9/08 at 100.00    N/R    825,710 
     Series 1993A, 7.600%, 9/01/15             
500    Yonkers Industrial Development Agency, New York, Revenue Bonds, St. John’s Riverside Hospital,    7/11 at 101.00    B–    503,445 
     Series 2001A, 7.125%, 7/01/31             
17,470    Total Health Care            17,668,190 
    Housing/Multifamily – 4.7% (4.8% of Total Investments)             
400    East Syracuse Housing Authority, New York, FHA-Insured Section 8 Assisted Revenue Refunding    4/10 at 102.00    AAA    419,172 
     Bonds, Bennet Project, Series 2001A, 6.700%, 4/01/21             
1,690    New York City Housing Development Corporation, New York, Capital Fund Program Revenue Bonds,    7/15 at 100.00    AA+    1,706,393 
     Series 2005A, 5.000%, 7/01/25 – FGIC Insured             
    New York City Housing Development Corporation, New York, Multifamily Housing Revenue Bonds,             
    Series 2001A:             
1,000     5.400%, 11/01/21    5/11 at 101.00    AA    1,024,910 
1,000     5.500%, 11/01/31    5/11 at 101.00    AA    1,013,010 
1,000     5.600%, 11/01/42    5/11 at 101.00    AA    1,008,490 
440    New York State Housing Finance Agency, Secured Mortgage Program Multifamily Housing Revenue    8/11 at 100.00    Aa1    445,592 
     Bonds, Series 2001E, 5.600%, 8/15/20 (Alternative Minimum Tax)             
1,275    Westchester County Industrial Development Agency, New York, GNMA Collateralized Mortgage    8/11 at 102.00    Aaa    1,318,516 
     Loan Revenue Bonds, Living Independently for the Elderly Inc., Series 2001A, 5.375%, 8/20/21             
6,805    Total Housing/Multifamily            6,936,083 
    Housing/Single Family – 4.0% (4.0% of Total Investments)             
950    New York State Mortgage Agency, Homeowner Mortgage Revenue Bonds, Series 130, 4.650%,    4/15 at 100.00    Aa1    871,179 
     4/01/27 (Alternative Minimum Tax)             
370    New York State Mortgage Agency, Homeowner Mortgage Revenue Bonds, Series 148, 2007,    10/17 at 100.00    Aa1    357,120 
     5.200%, 10/01/32 (Alternative Minimum Tax)             
3,750    New York State Mortgage Agency, Homeowner Mortgage Revenue Bonds, Series 73A, 5.250%,    9/08 at 101.00    Aa1    3,772,612 
     10/01/17 (Alternative Minimum Tax)             
840    New York State Mortgage Agency, Mortgage Revenue Bonds, Thirty-Third Series A, 4.750%,    4/13 at 101.00    Aaa    799,831 
     4/01/23 (Alternative Minimum Tax)             
5,910    Total Housing/Single Family            5,800,742 
    Long-Term Care – 9.0% (9.1% of Total Investments)             
1,000    Babylon Industrial Development Agency, New York, Revenue Bonds, WSNCHS East Inc.,    8/09 at 101.00    AA    1,032,190 
     Series 2000B, 6.000%, 8/01/24 – MBIA Insured             
1,000    Dormitory Authority of the State of New York, FHA-Insured Mortgage Nursing Home Revenue Bonds,    8/08 at 102.00    AAA    1,003,880 
     Eger Healthcare Center of Staten Island, Series 1998, 5.100%, 2/01/28             
2,760    Dormitory Authority of the State of New York, FHA-Insured Mortgage Nursing Home Revenue Bonds,    8/08 at 101.00    AA    2,792,954 
     Hebrew Home for the Aged at Riverdale, Series 1997, 6.125%, 2/01/37             
2,250    Dormitory Authority of the State of New York, FHA-Insured Mortgage Nursing Home Revenue Bonds,    8/08 at 101.00    AA    2,271,195 
     Rosalind and Joseph Gurwin Jewish Geriatric Center of Long Island, Series 1997, 5.700%,             
     2/01/37 – AMBAC Insured             
1,455    Dormitory Authority of the State of New York, FHA-Insured Mortgage Revenue Bonds, German    8/08 at 100.00    AA–    1,456,833 
     Masonic Home Corporation, Series 1996, 5.950%, 8/01/26             
2,000    Dormitory Authority of the State of New York, FHA-Insured Mortgage Revenue Bonds, W.K. Nursing    8/08 at 100.00    AAA    2,002,380 
     Home Corporation, Series 1996, 6.125%, 2/01/36             
450    Dormitory Authority of the State of New York, GNMA Collateralized Revenue Bonds, Cabrini of    2/17 at 103.00    AA    461,268 
     Westchester Project, Series 2006, 5.200%, 2/15/41             
270    Dormitory Authority of the State of New York, Non-State Supported Debt, Ozanam Hall of Queens    11/16 at 100.00    Aa3    270,165 
     Nursing Home Revenue Bonds, Series 2006, 5.000%, 11/01/31             
135    Dormitory Authority of the State of New York, Revenue Bonds, Providence Rest, Series 2005,    7/15 at 100.00    N/R    105,898 
     5.000%, 7/01/35 – ACA Insured             
530    New York City Industrial Development Agency, New York, Civic Facility Revenue Bonds, Special    7/11 at 101.00    N/R    548,200 
     Needs Facilities Pooled Program, Series 2001A-1, 7.250%, 7/01/16             
820    New York City Industrial Development Agency, New York, Civic Facility Revenue Bonds, Special    7/16 at 101.00    N/R    776,925 
     Needs Facilities Pooled Program, Series 2008A-1, 5.500%, 7/01/18             
235    Suffolk County Industrial Development Agency, New York, Civic Facility Revenue Bonds, Special    7/16 at 101.00    N/R    221,422 
     Needs Facilities Pooled Program, Series 2008-B1, 5.800%, 7/01/23             
225    Yonkers Industrial Development Agency, New York, Civic Facilities Revenue Bonds, Special Needs    7/16 at 101.00    N/R    212,000 
     Facilities Pooled Program Bonds, Series 2008-C1, 5.800%, 7/01/23             
13,130    Total Long-Term Care            13,155,310 
    Materials – 0.1% (0.2% of Total Investments)             
240    Jefferson County Industrial Development Agency, New York, Solid Waste Disposal Revenue Bonds,    12/13 at 100.00    BBB    219,082 
     International Paper Company Project, Series 2003A, 5.200%, 12/01/20 (Alternative Minimum Tax)             
    Tax Obligation/General – 8.0% (8.1% of Total Investments)             
750    New York City, New York, General Obligation Bonds, Fiscal Series 2004C, 5.250%, 8/15/16    8/14 at 100.00    AA    801,075 
1,000    New York City, New York, General Obligation Bonds, Fiscal Series 2004E, 5.000%, 11/01/19 –    11/14 at 100.00    AAA    1,044,330 
     FSA Insured             
2,000    New York City, New York, General Obligation Bonds, Fiscal Series 2005F-1, 5.000%, 9/01/19 –    9/15 at 100.00    AA    2,072,100 
     XLCA Insured             
2,795    New York City, New York, General Obligation Bonds, Fiscal Series 2007A, 5.000%, 8/01/25    8/16 at 100.00    AA    2,869,681 
4,760    New York City, New York, General Obligation Bonds, Series D, 5.125%, 12/01/25    12/17 at 100.00    AA    4,941,736 
11,305    Total Tax Obligation/General            11,728,922 
    Tax Obligation/Limited – 20.5% (20.7% of Total Investments)             
1,000    Battery Park City Authority, New York, Senior Revenue Bonds, Series 2003A, 5.250%, 11/01/21    11/13 at 100.00    AAA    1,058,000 
395    Dormitory Authority of the State of New York, Department of Health Revenue Bonds,    7/15 at 100.00    AA–    408,549 
     Series 2005A, 5.250%, 7/01/24 – CIFG Insured             
275    Dormitory Authority of the State of New York, State Personal Income Tax Revenue Bonds,    3/15 at 100.00    AAA    285,447 
     Series 2005F, 5.000%, 3/15/21 – FSA Insured             
350    Erie County Industrial Development Agency, New York, School Facility Revenue Bonds,    5/14 at 100.00    AAA    382,722 
     Buffalo City School District, Series 2004, 5.750%, 5/01/26 – FSA Insured (7)             
    Metropolitan Transportation Authority, New York, Dedicated Tax Fund Bonds, Series 2002A:             
2,000     5.250%, 11/15/25 – FSA Insured    11/12 at 100.00    AAA    2,085,960 
1,000     5.000%, 11/15/30    11/12 at 100.00    AA    1,011,690 
1,000    Metropolitan Transportation Authority, New York, State Service Contract Refunding Bonds,    7/12 at 100.00    AA–    1,010,980 
     Series 2002A, 5.125%, 1/01/29             
560    Monroe Newpower Corporation, New York, Power Facilities Revenue Bonds, Series 2003,    1/13 at 102.00    BBB    498,646 
     5.500%, 1/01/34             
    New York City Sales Tax Asset Receivable Corporation, New York, Dedicated Revenue Bonds,             
    Local Government Assistance Corporation, Series 2004A:             
740     5.000%, 10/15/25 – MBIA Insured    10/14 at 100.00    AAA    762,481 
550     5.000%, 10/15/26 – MBIA Insured    10/14 at 100.00    AAA    565,494 
1,890     5.000%, 10/15/29 – AMBAC Insured    10/14 at 100.00    AAA    1,930,767 
1,200    New York City Transitional Finance Authority, New York, Building Aid Revenue Bonds, Fiscal    1/17 at 100.00    AA–    1,209,096 
     Series 2007S-2, 5.000%, 1/15/28 – FGIC Insured             
1,330    New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Fiscal    2/13 at 100.00    AAA    1,372,015 
     Series 2003E, 5.000%, 2/01/23             
1,530    New York City Transitional Finance Authority, New York, Future Tax Secured Bonds, Fiscal    11/17 at 100.00    AAA    1,580,628 
     Series 2007C-1, 5.000%, 11/01/27             
1,000    New York State Environmental Facilities Corporation, Infrastructure Revenue Bonds, Series    3/14 at 100.00    AA–    1,034,930 
     2003A, 5.000%, 3/15/21             
2,100    New York State Environmental Facilities Corporation, State Personal Income Tax Revenue Bonds,    12/17 at 100.00    AAA    2,173,574 
     Series 2008A, 5.000%, 12/15/27 (UB)             
840    New York State Housing Finance Agency, State Personal Income Tax Revenue Bonds, Economic    9/15 at 100.00    AAA    852,634 
     Development and Housing, Series 2006A, 5.000%, 3/15/36             
1,000    New York State Thruway Authority, Highway and Bridge Trust Fund Bonds, Second General,    10/15 at 100.00    AA    1,040,630 
     Series 2005B, 5.000%, 4/01/21 – AMBAC Insured             
610    New York State Thruway Authority, Highway and Bridge Trust Fund Bonds, Series 2005B, Trust    No Opt. Call    AA    882,048 
     2800, 16.320%, 4/01/20 – AMBAC Insured (IF)             
1,175    New York State Thruway Authority, Highway and Bridge Trust Fund Bonds, Series 2007,    10/17 at 100.00    AA    1,211,801 
     5.000%, 4/01/27             
1,620    New York State Thruway Authority, State Personal Income Tax Revenue Bonds, Series 2002A,    3/12 at 100.00    AAA    1,687,813 
     5.125%, 3/15/21             
    New York State Tobacco Settlement Financing Corporation, Tobacco Settlement Asset-Backed and             
    State Contingency Contract-Backed Bonds, Series 2003A-1:             
1,800     5.250%, 6/01/20 – AMBAC Insured    6/13 at 100.00    AA    1,869,372 
2,000     5.250%, 6/01/22 – AMBAC Insured    6/13 at 100.00    AA    2,066,520 
1,000    New York State Tobacco Settlement Financing Corporation, Tobacco Settlement Asset-Backed and    6/13 at 100.00    AA–    1,044,550 
     State Contingency Contract-Backed Bonds, Series 2003B-1C, 5.500%, 6/01/21             
600    New York State Urban Development Corporation, Special Project Revenue Bonds, University    No Opt. Call    AA–    680,076 
     Facilities Grants, Series 1995, 5.875%, 1/01/21             
1,230    Suffolk County Judicial Facilities Agency, New York, Service Agreement Revenue Bonds, John P.    10/09 at 101.00    AA    1,268,044 
     Colahan Court Complex, Series 1999, 5.000%, 4/15/16 – AMBAC Insured             
40    Triborough Bridge and Tunnel Authority, New York, Convention Center Bonds, Series 1990E,    No Opt. Call    AA–    41,744 
     7.250%, 1/01/10             
28,835    Total Tax Obligation/Limited            30,016,211 
    Transportation – 8.3% (8.4% of Total Investments)             
180    Albany Parking Authority, New York, Revenue Bonds, Series 2001A, 5.625%, 7/15/25    7/11 at 101.00    BBB+    184,529 
2,500    Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Series 2007B,    11/17 at 100.00    A    2,507,275 
     5.000%, 11/15/33             
500    Metropolitan Transportation Authority, New York, Transportation Revenue Refunding Bonds,    11/12 at 100.00    AA    520,555 
     Series 2002A, 5.500%, 11/15/19 – AMBAC Insured             
1,100    New York City Industrial Development Agency, New York, Special Facilities Revenue Bonds,    12/08 at 102.00    BB+    685,278 
     British Airways PLC, Series 1998, 5.250%, 12/01/32 (Alternative Minimum Tax)             
1,000    New York City Industrial Development Agency, New York, Special Facilities Revenue Bonds, JFK    8/12 at 101.00    B    962,290 
     Airport – American Airlines Inc., Series 2002B, 8.500%, 8/01/28 (Alternative Minimum Tax)             
165    New York State Thruway Authority, General Revenue Bonds, Series 2005F, 5.000%, 1/01/30 –    1/15 at 100.00    AA    167,930 
     AMBAC Insured             
400    New York State Thruway Authority, General Revenue Bonds, Series 2005G, 5.000%, 1/01/30 –    7/15 at 100.00    AAA    409,244 
     FSA Insured             
500    Niagara Frontier Airport Authority, New York, Airport Revenue Bonds, Buffalo Niagara International    4/09 at 101.00    AA    500,770 
     Airport, Series 1999A, 5.625%, 4/01/29 – MBIA Insured (Alternative Minimum Tax)             
    Port Authority of New York and New Jersey, Consolidated Revenue Bonds, One Hundred Fortieth             
    Series 2005:             
1,000     5.000%, 12/01/28 – XLCA Insured    6/15 at 101.00    AA–    1,024,540 
435     5.000%, 12/01/31 – XLCA Insured    6/15 at 101.00    AA–    443,765 
430    Port Authority of New York and New Jersey, One Hundred and Forty Eighth Consolidated Revenue    8/17 at 100.00    AAA    462,336 
     Bonds, RITES Trust 1516, 11.509%, 8/15/32 – FSA Insured (IF)             
2,500    Triborough Bridge and Tunnel Authority, New York, General Purpose Revenue Refunding Bonds,    11/12 at 100.00    Aa2    2,557,475 
     Series 2002B, 5.000%, 11/15/21             
    Triborough Bridge and Tunnel Authority, New York, Subordinate Lien General Purpose Revenue             
    Refunding Bonds, Series 2002E:             
780     5.500%, 11/15/20 – MBIA Insured    No Opt. Call    AA    865,964 
800     5.250%, 11/15/22 – MBIA Insured    11/12 at 100.00    AA    833,768 
12,290    Total Transportation            12,125,719 
    U.S. Guaranteed – 9.2% (9.3% of Total Investments) (5)             
    Albany Industrial Development Agency, New York, Revenue Bonds, Albany Law School, Series 2000A:             
600     5.700%, 10/01/20 (Pre-refunded 10/01/10) – RAAI Insured    10/10 at 100.00    A (5)    639,396 
750     5.750%, 10/01/30 (Pre-refunded 10/01/10) – RAAI Insured    10/10 at 100.00    A (5)    800,063 
220    Albany Parking Authority, New York, Revenue Bonds, Series 2001A, 5.625%, 7/15/25    7/11 at 101.00    N/R (5)    239,050 
     (Pre-refunded 7/15/11)             
2,765    Dormitory Authority of the State of New York, Judicial Facilities Lease Revenue Bonds, Suffolk    No Opt. Call    AAA    3,212,182 
     County Issue, Series 1986, 7.375%, 7/01/16 (ETM)             
25    Dormitory Authority of the State of New York, Suffolk County, Lease Revenue Bonds, Judicial    No Opt. Call    Baa1 (5)    32,370 
     Facilities, Series 1991A, 9.500%, 4/15/14 (ETM)             
3,125    East Rochester Housing Authority, New York, FHA-Insured Mortgage Revenue Bonds, St. John’s    8/08 at 101.00    N/R (5)    3,165,655 
     Meadows Project, Series 1998A, 5.250%, 8/01/38 (Pre-refunded 8/01/08)             
305    Erie County Tobacco Asset Securitization Corporation, New York, Senior Tobacco Settlement    7/10 at 101.00    AAA    326,856 
     Asset-Backed Bonds, Series 2000, 6.000%, 7/15/20 (Pre-refunded 7/15/10)             
960    Metropolitan Transportation Authority, New York, Commuter Facilities Revenue Bonds, Series    7/08 at 101.00    AA (5)    970,723 
     1997B, 5.000%, 7/01/20 – AMBAC Insured (ETM)             
480    Monroe Tobacco Asset Securitization Corporation, New York, Tobacco Settlement Asset-Backed    6/10 at 101.00    AAA    510,547 
     Bonds, Series 2000, 6.150%, 6/01/25 (Pre-refunded 6/01/10)             
410    New York City Industrial Development Agency, New York, Civic Facility Revenue Bonds, Special    7/10 at 102.00    N/R (5)    447,626 
     Needs Facilities Pooled Program, Series 2000, 8.125%, 7/01/19 (Pre-refunded 7/01/10)             
750    Niagara Falls City School District, Niagara County, New York, Certificates of Participation,    6/09 at 101.00    BBB– (5)    789,548 
     High School Facility, Series 2000, 6.625%, 6/15/28 (Pre-refunded 6/15/09)             
1,000    Niagara Falls, Niagara County, New York, General Obligation Water Treatment Plant Bonds,    No Opt. Call    AA (5)    1,125,710 
     Series 1994, 7.250%, 11/01/11 – MBIA Insured (Alternative Minimum Tax) (ETM)             
1,120    Yonkers Industrial Development Agency, New York, Revenue Bonds, Community Development    2/11 at 100.00    BBB– (5)    1,220,878 
     Properties – Yonkers Inc. Project, Series 2001A, 6.625%, 2/01/26 (Pre-refunded 2/01/11)             
12,510    Total U.S. Guaranteed            13,480,604 
    Utilities – 6.4% (6.5% of Total Investments)             
    Long Island Power Authority, New York, Electric System General Revenue Bonds, Series 2006A:             
1,500     5.000%, 12/01/23 – FGIC Insured    6/16 at 100.00    A–    1,507,725 
1,500     5.000%, 12/01/24 – FGIC Insured    6/16 at 100.00    A–    1,504,800 
250    Long Island Power Authority, New York, Electric System General Revenue Bonds, Series 2006B,    6/16 at 100.00    A–    249,250 
     5.000%, 12/01/35 – CIFG Insured             
1,000    Nassau County Industrial Development Authority, New York, Keyspan Glenwood Energy Project,    6/13 at 100.00    A–    977,680 
     Series 2003, 5.250%, 6/01/27 (Alternative Minimum Tax)             
1,500    New York State Energy Research and Development Authority, Pollution Control Revenue Bonds,    3/11 at 100.00    AA    1,493,835 
     New York State Electric and Gas Corporation, Series 2005A, 4.100%, 3/15/15 – MBIA Insured             
500    Niagara County Industrial Development Agency, New York, Solid Waste Disposal Facility Revenue    11/11 at 101.00    Baa2    492,435 
     Bonds, American Ref-Fuel Company of Niagara LP, Series 2001A, 5.450%, 11/15/26 (Mandatory             
     put 11/15/12) (Alternative Minimum Tax)             
250    Niagara County Industrial Development Agency, New York, Solid Waste Disposal Facility Revenue    11/11 at 101.00    Baa2    246,280 
     Bonds, American Ref-Fuel Company of Niagara LP, Series 2001C, 5.625%, 11/15/24 (Mandatory             
     put 11/15/14) (Alternative Minimum Tax)             
1,500    Power Authority of the State of New York, General Revenue Bonds, Series 2000A, 5.250%, 11/15/40    11/10 at 100.00    Aa2    1,514,955 
25    Power Authority of the State of New York, General Revenue Bonds, Series 2006A, 5.000%,    11/15 at 100.00    Aa2    26,191 
     11/15/19 – FGIC Insured             
    Suffolk County Industrial Development Agency, New York, Revenue Bonds, Nissequogue             
    Cogeneration Partners Facility, Series 1998:             
1,000     5.300%, 1/01/13 (Alternative Minimum Tax)    1/09 at 101.00    N/R    941,540 
575     5.500%, 1/01/23 (Alternative Minimum Tax)    1/09 at 101.00    N/R    499,905 
9,600    Total Utilities            9,454,596 
    Water and Sewer – 1.9% (2.0% of Total Investments)             
415    New York City Municipal Water Finance Authority, New York, Water and Sewerage System Revenue    6/10 at 101.00    AAA    444,179 
     Bonds, Fiscal Series 2000B, 6.100%, 6/15/31 – MBIA Insured             
1,500    New York City Municipal Water Finance Authority, New York, Water and Sewerage System Revenue    6/11 at 101.00    AA+    1,596,000 
     Bonds, Fiscal Series 2001D, 5.500%, 6/15/17             
740    New York City Municipal Water Finance Authority, New York, Water and Sewerage System Revenue    6/12 at 100.00    AA+    777,311 
     Bonds, Fiscal Series 2003A, 5.375%, 6/15/19             
2,655    Total Water and Sewer            2,817,490 
$      141,670    Total Long-Term Investments (cost $143,228,495) – 97.9%            143,697,143 
    Short-Term Investments – 0.7% (0.7% of Total Investments)             
$          1,000    Erie County Water Authority, New York, Water Revenue Bonds, Variable Rate Demand Obligations,        VMIG-1    1,000,000 
     Series 1993A, 3.750%, 12/01/16 – AMBAC Insured (6)             
    Total Short-Term Investments (cost $1,000,000)            1,000,000 
    Total Investments (cost $144,228,495) – 98.6%            144,697,143 
    Floating Rate Obligations – (1.1)%            (1,575,000) 
    Other Assets Less Liabilities – 2.5%            3,669,566 
    Net Assets Applicable to Common Shares – 100%           $   146,791,709 

Futures Contracts outstanding at June 30, 2008:                     
                    Unrealized 
    Contract    Number of    Contract    Value at    Appreciation 
Type    Position    Contracts    Expiration    June 30, 2008    (Depreciation) 
U.S. Treasury Bonds    Long    53    9/08    $6,126,469    $30,506 

(1)    All percentages shown in the Portfolio of Investments are based on net assets applicable to Common 
    shares unless otherwise noted. 
(2)    Optional Call Provisions: Dates (month and year) and prices of the earliest optional call or redemption. 
    There may be other call provisions at varying prices at later dates. Certain mortgage-backed securities 
    may be subject to periodic principal paydowns. 
(3)    Ratings: Using the higher of Standard & Poor’s Group (“Standard & Poor’s”) or Moody’s Investor Service, 
    Inc. (“Moody’s”) rating. Ratings below BBB by Standard & Poor’s or Baa by Moody’s are considered to be 
    below investment grade. 
    The Portfolio of Investments may reflect the ratings on certain bonds insured by ACA, AMBAC, CIFG, FGIC, 
    MBIA, RAAI and XLCA as of June 30, 2008. Subsequent to June 30, 2008, and during the period this 
    Portfolio of Investments was prepared, there may have been reductions to the ratings of certain bonds 
    resulting from changes to the ratings of the underlying insurers both during the period and after period end. 
    Such reductions would likely reduce the effective rating of many of the bonds insured by that insurer or 
    insurers presented at period end. 
(4)    Investment valued at fair value using methods determined in good faith by, or at the discretion of, the 
    Board of Directors/Trustees. 
(5)    Backed by an escrow or trust containing sufficient U.S. Government or U.S. Government agency securities 
    which ensure the timely payment of principal and interest. Such investments are normally considered to be 
    equivalent to AAA rated securities. 
(6)    Investment has a maturity of more than one year, but has variable rate and demand features which qualify 
    it as a short-term investment. The rate disclosed is that in effect at the end of the reporting period. This 
    rate changes periodically based on market conditions or a specified market index. 
(7)    Portion of investment, with an aggregate market value of $120,284, has been pledged to collateralized the 
    net payment obligations under futures contracts. 
N/R    Not rated. 
(ETM)    Escrowed to maturity. 
(IF)    Inverse floating rate investment. 
(UB)    Underlying bond of an inverse floating rate trust reflected as a financing transaction pursuant to the 
    provisions of SFAS No. 140. 

Income Tax Information

The following information is presented on an income tax basis. Differences between amounts for financial statement and federal income tax purposes are primarily due to timing differences in recognizing taxable market discount, timing differences in recognizing certain gains and losses on investment transactions and the treatment of investments in inverse floating rate transactions subject to SFAS No. 140. To the extent that differences arise that are permanent in nature, such amounts are reclassified within the capital accounts on the Statement of Assets and Liabilities presented in the annual report, based on their federal tax basis treatment; temporary differences do not require reclassification. Temporary and permanent differences do not impact the net asset value of the Fund.

At June 30, 2008, the cost of investments was $142,364,152.

Gross unrealized appreciation and gross unrealized depreciation of investments at June 30, 2008, were as follows:

Gross unrealized:     
  Appreciation    $ 3,206,911 
  Depreciation    (2,448,920)
Net unrealized appreciation (depreciation) of investments    $    757,991 

Item 2. Controls and Procedures.

  1. 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") (17 CFR 270.30a-3(c))) are effective, as of a date within 90 days of the filing date of this report that includes the disclosure required by this paragraph, based on their evaluation of the controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rule 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934 (17 CFR 240.13a-15(b) or 240.15d-15(b)).
  2. 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.

File as exhibits as part of this Form a separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the 1940 Act (17 CFR 270.30a-2(a)), exactly as set forth below: See EX-99 CERT attached hereto.


SIGNATURES

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.

(Registrant)         Nuveen New York Municipal Value Fund, Inc.         

By (Signature and Title)          /s/ Kevin J. McCarthy                    
                                                  Kevin J. McCarthy
                                                  Vice President and Secretary

Date         August 29, 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 (Signature and Title)         /s/ Gifford R. Zimmerman                    
                                                 Gifford R. Zimmerman
                                                 Chief Administrative Officer (principal executive officer) 

Date         August 29, 2008        

By (Signature and Title)         /s/ Stephen D. Foy                              
                                                 Stephen D. Foy
                                                 Vice President and Controller (principal financial officer) 

Date        August 29, 2008