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:            09/30          

Date of reporting period:         12/31/07         

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)             
    December 31, 2007             
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   $   249,013 
     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    1,741,604 
     Series 2007A, 5.000%, 12/01/23             
2,225    Total Consumer Discretionary            1,990,617 
    Consumer Staples – 1.5% (1.5% of Total Investments)             
300    New York Counties Tobacco Trust II, Tobacco Settlement Pass-Through Bonds, Series 2001,    6/11 at 101.00    BBB    294,813 
     5.250%, 6/01/25             
430    Puerto Rico, The Children’s Trust Fund, Tobacco Settlement Asset-Backed Refunding Bonds,    5/12 at 100.00    BBB    421,800 
     Series 2002, 5.375%, 5/15/33             
225    Rensselaer Tobacco Asset Securitization Corporation, New York, Tobacco Settlement Asset-Backed    6/12 at 100.00    BBB    218,615 
     Bonds, Series 2001A, 5.200%, 6/01/25             
    TSASC Inc., New York, Tobacco Asset-Backed Bonds, Series 2006:             
1,070     4.750%, 6/01/22    6/16 at 100.00    BBB    1,043,239 
345     5.000%, 6/01/26    6/16 at 100.00    BBB    333,736 
2,370    Total Consumer Staples            2,312,203 
    Education and Civic Organizations – 9.3% (9.3% of Total Investments)             
    Albany Industrial Development Agency, New York, Revenue Bonds, Albany Law School, Series 2000A:             
600     5.700%, 10/01/20 – RAAI Insured    10/10 at 100.00    AA    614,760 
750     5.750%, 10/01/30 – RAAI Insured    10/10 at 100.00    AA    762,293 
275    Albany Industrial Development Agency, New York, Revenue Bonds, Albany Law School, Series    7/17 at 100.00    BBB    256,814 
     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    100,867 
     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–    87,322 
     University, Series 2006, 5.000%, 5/01/23             
1,175    Dormitory Authority of the State of New York, General Revenue Bonds, Manhattan College, Series    7/17 at 100.00    AA    1,121,784 
     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    AA    818,384 
     Series 2001, 5.250%, 7/01/20 – RAAI Insured             
615    Dormitory Authority of the State of New York, Revenue Bonds, City University of New York,    No Opt. Call    AAA    697,699 
     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    AA    1,295,013 
     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    AA    781,343 
     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–    1,136,440 
1,400     6.000%, 7/01/20    No Opt. Call    AA–    1,638,070 
1,175    Dutchess County Industrial Development Agency, New York, Civic Facility Revenue Bonds, Bard    8/17 at 100.00    A3    1,082,739 
     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–    261,067 
     Civic Facility Project, Series 2005, 5.000%, 10/01/35             
245    New York City Industrial Development Agency, New York, Civic Facility Revenue Bonds, St.    10/14 at 100.00    A–    240,024 
     Francis College, Series 2004, 5.000%, 10/01/34             
1,100    New York City Industrial Development Agency, New York, Civic Facility Revenue Bonds, YMCA of    2/11 at 100.00    A–    1,125,531 
     Greater New York, Series 2002, 5.250%, 8/01/21             
505    New York City Industrial Development Agency, New York, PILOT Revenue Bonds, Yankee Stadium    9/16 at 100.00    AAA    537,002 
     Project, Residual Series 07-1032, 6.970%, 3/01/39 – FGIC Insured (IF)             
1,175    New York City Industrial Development Agency, New York, PILOT Revenue Bonds, Queens Baseball    1/17 at 100.00    AAA    1,170,089 
     Stadium Project, Series 2006, 4.750%, 1/01/42 – AMBAC Insured             
150    New York City Industrial Development Agency, New York, Revenue Bonds, Yankee Stadium Pilots,    9/16 at 100.00    AAA    161,910 
     Trust 2148, 7.652%, 3/01/36 – MBIA Insured (IF)             
170    Seneca County Industrial Development Authority, New York, Revenue Bonds, New York Chiropractic    10/17 at 100.00    BBB    162,744 
     College, Series 2007, 5.000%, 10/01/27             
13,605    Total Education and Civic Organizations            14,051,895 
    Financials – 1.2% (1.2% of Total Investments)             
400    Liberty Development Corporation, New York, Goldman Sachs Headquarter Revenue Bonds, Series    No Opt. Call    AA–    423,284 
     2005, 5.250%, 10/01/35             
1,305    Liberty Development Corporation, New York, Goldman Sachs Headquarters Revenue Bonds Series    No Opt. Call    AA–    1,443,265 
     2007, 5.500%, 10/01/37             
1,705    Total Financials            1,866,549 
    Health Care – 12.2% (12.2% of Total Investments)             
490    Cattaraugus County Industrial Development Agency, New York, Revenue Bonds, Olean General    8/08 at 102.00    AA    499,148 
     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    AAA    1,034,849 
     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    AAA    732,886 
     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    1,824,480 
     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    1,307,450 
     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    2,423,015 
     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    1,042,130 
     Group, Series 2000A, 6.500%, 7/01/25             
250    Dormitory Authority of the State of New York, Revenue Bonds, Mount Sinai NYU Health, Series    7/08 at 100.00    Baa1    251,388 
     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    1,743,176 
     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    509,845 
     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    501,290 
     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    289,113 
     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–    268,428 
260     5.500%, 2/01/32    No Opt. Call    BBB–    251,404 
470    Nassau County Industrial Development Agency, New York, Revenue Refunding Bonds, North Shore    No Opt. Call    A3    486,549 
     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, Series    2/09 at 101.00    AAA    513,205 
     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    AAA    1,248,520 
1,000     5.250%, 2/15/22 – AMBAC Insured    2/13 at 100.00    AAA    1,062,570 
490    New York City Industrial Development Agency, New York, Civic Facility Revenue Bonds, Staten    7/12 at 100.00    B2    491,044 
     Island University Hospital, Series 2001B, 6.375%, 7/01/31             
250    New York City Industrial Development Agency, New York, Civic Facility Revenue Bonds, Staten    7/12 at 101.00    B2    251,578 
     Island University Hospital, Series 2002C, 6.450%, 7/01/32             
320    New York State Dormitory Authority, Revenue Bonds, North Shore Jewish Obligated Group, Series    5/17 at 100.00    A3    313,795 
     2007A, 5.000%, 5/01/32             
825    Newark-Wayne Community Hospital, New York, Hospital Revenue Refunding and Improvement Bonds,    3/08 at 100.00    N/R    825,660 
     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–    507,945 
     Series 2001A, 7.125%, 7/01/31             
17,800    Total Health Care            18,379,468 
    Housing/Multifamily – 5.0% (5.0% of Total Investments)             
400    East Syracuse Housing Authority, New York, FHA-Insured Section 8 Assisted Revenue Refunding    4/10 at 102.00    AAA    424,404 
     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    AAA    1,755,826 
     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    1,039,760 
1,000     5.500%, 11/01/31    5/11 at 101.00    AA    1,026,040 
1,000     5.600%, 11/01/42    5/11 at 101.00    AA    1,025,590 
480    New York City Housing Development Corporation, New York, Multifamily Housing Revenue Bonds,    11/15 at 100.00    AA    476,669 
     Series 2005F-1, 4.750%, 11/01/35             
440    New York State Housing Finance Agency, Secured Mortgage Program Multifamily Housing Revenue    8/11 at 100.00    Aa1    451,356 
     Bonds, Series 2001E, 5.600%, 8/15/20 (Alternative Minimum Tax)             
1,275    Westchester County Industrial Development Agency, New York, GNMA Collateralized Mortgage Loan    8/11 at 102.00    Aaa    1,343,123 
     Revenue Bonds, Living Independently for the Elderly Inc., Series 2001A, 5.375%, 8/20/21             
7,285    Total Housing/Multifamily            7,542,768 
    Housing/Single Family – 3.9% (3.9% of Total Investments)             
950    New York State Mortgage Agency, Homeowner Mortgage Revenue Bonds, Series 130, 4.650%, 4/01/27    4/15 at 100.00    Aa1    895,347 
     (Alternative Minimum Tax)             
370    New York State Mortgage Agency, Homeowner Mortgage Revenue Bonds, Series 148, 2007, 5.200%,    10/17 at 100.00    Aa1    368,694 
     10/01/32 (Alternative Minimum Tax)             
3,750    New York State Mortgage Agency, Homeowner Mortgage Revenue Bonds, Series 73A, 5.250%, 10/01/17    9/08 at 101.00    Aa1    3,802,873 
     (Alternative Minimum Tax)             
840    New York State Mortgage Agency, Mortgage Revenue Bonds, Thirty-Third Series A, 4.750%, 4/01/23    4/13 at 101.00    Aaa    824,485 
     (Alternative Minimum Tax)             
5,910    Total Housing/Single Family            5,891,399 
    Long-Term Care – 8.1% (8.1% of Total Investments)             
1,000    Babylon Industrial Development Agency, New York, Revenue Bonds, WSNCHS East Inc., Series    8/09 at 101.00    AAA    1,046,980 
     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,    2/08 at 102.00    AAA    1,020,980 
     Eger Healthcare Center of Staten Island, Series 1998, 5.100%, 2/01/28             
2,810    Dormitory Authority of the State of New York, FHA-Insured Mortgage Nursing Home Revenue Bonds,    2/08 at 101.00    AA    2,871,174 
     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,    2/08 at 101.00    AAA    2,298,240 
     Rosalind and Joseph Gurwin Jewish Geriatric Center of Long Island, Series 1997, 5.700%,             
     2/01/37 – AMBAC Insured             
1,535    Dormitory Authority of the State of New York, FHA-Insured Mortgage Revenue Bonds, German    2/08 at 101.00    AA–    1,550,703 
     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    2/08 at 101.00    AAA    2,005,020 
     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    473,441 
     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    273,775 
     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    CCC    113,202 
     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    548,179 
     Needs Facilities Pooled Program, Series 2001A-1, 7.250%, 7/01/16             
11,980    Total Long-Term Care            12,201,694 
    Materials – 0.2% (0.2% of Total Investments)             
240    Jefferson County Industrial Development Agency, New York, Solid Waste Disposal Revenue Bonds,    12/13 at 100.00    BBB    232,596 
     International Paper Company Project, Series 2003A, 5.200%, 12/01/20 (Alternative Minimum Tax)             
    Tax Obligation/General – 7.9% (7.9% 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    819,720 
1,000    New York City, New York, General Obligation Bonds, Fiscal Series 2004E, 5.000%, 11/01/19 –    11/14 at 100.00    AAA    1,073,250 
     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    AAA    2,134,640 
     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    2,886,452 
4,760    New York City, New York, General Obligation Bonds, Series D, 5.125%, 12/01/25    12/17 at 100.00    AA    4,982,098 
11,305    Total Tax Obligation/General            11,896,160 
    Tax Obligation/Limited – 21.1% (21.1% 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    1,075,720 
    Dormitory Authority of the State of New York, Department of Health Revenue Bonds, Series 2005A:             
395     5.250%, 7/01/24 – CIFG Insured    7/15 at 100.00    AAA    418,451 
250     5.000%, 7/01/25 – CIFG Insured    7/15 at 100.00    AAA    259,253 
5    Dormitory Authority of the State of New York, Improvement Revenue Bonds, Mental Health    2/08 at 100.00    AAA    5,010 
     Services Facilities, Series 1996B, 5.375%, 2/15/26 – FSA Insured             
380    Dormitory Authority of the State of New York, Revenue Bonds, Mental Health Services Facilities    2/15 at 100.00    AAA    391,100 
     Improvements, Series 2005B, 5.000%, 2/15/30 – AMBAC Insured             
275    Dormitory Authority of the State of New York, State Personal Income Tax Revenue Bonds, Series    3/15 at 100.00    AAA    291,451 
     2005F, 5.000%, 3/15/21 – FSA Insured             
350    Erie County Industrial Development Agency, New York, School Facility Revenue Bonds, Buffalo    5/14 at 100.00    AAA    388,283 
     City School District, Series 2004, 5.750%, 5/01/26 – FSA Insured             
    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    2,122,300 
1,000     5.000%, 11/15/30    11/12 at 100.00    AA    1,022,260 
1,000    Metropolitan Transportation Authority, New York, State Service Contract Refunding Bonds,    7/12 at 100.00    AA–    1,030,130 
     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    546,762 
     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    777,059 
550     5.000%, 10/15/26 – MBIA Insured    10/14 at 100.00    AAA    576,219 
1,510     5.000%, 10/15/29 – AMBAC Insured    10/14 at 100.00    AAA    1,573,828 
1,200    New York City Transitional Finance Authority, New York, Building Aid Revenue Bonds, Fiscal    1/17 at 100.00    AAA    1,253,652 
     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    1,394,518 
     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    1,618,205 
     Series 2007C-1, 5.000%, 11/01/27             
1,000    New York Convention Center Development Corporation, Hotel Unit Fee Revenue Bonds, Series 2005,    11/15 at 100.00    AAA    1,024,460 
     5.000%, 11/15/44 – AMBAC Insured             
1,000    New York State Environmental Facilities Corporation, Infrastructure Revenue Bonds, Series    3/14 at 100.00    AA–    1,046,300 
     2003A, 5.000%, 3/15/21             
840    New York State Housing Finance Agency, State Personal Income Tax Revenue Bonds, Economic    9/15 at 100.00    AAA    870,635 
     Development and Housing, Series 2006A, 5.000%, 3/15/36             
    New York State Thruway Authority, Highway and Bridge Trust Fund Bonds, Second Generation,             
    Series 2005B:             
2,450     5.500%, 4/01/20 – AMBAC Insured (UB)    No Opt. Call    AAA    2,814,536 
1,000     5.000%, 4/01/21 – AMBAC Insured    10/15 at 100.00    AAA    1,064,160 
1,175    New York State Thruway Authority, Highway and Bridge Trust Fund Bonds, Series 2007,    10/17 at 100.00    AA    1,235,560 
     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    1,707,772 
     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    AAA    1,917,108 
2,000     5.250%, 6/01/22 – AMBAC Insured    6/13 at 100.00    AAA    2,124,100 
1,000    New York State Tobacco Settlement Financing Corporation, Tobacco Settlement Asset-Backed and    6/13 at 100.00    AA–    1,070,110 
     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–    700,878 
     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    AAA    1,280,848 
     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–    41,484 
     7.250%, 1/01/10             
29,830    Total Tax Obligation/Limited            31,642,152 
    Transportation – 8.8% (8.8% of Total Investments)             
180    Albany Parking Authority, New York, Revenue Bonds, Series 2001A, 5.625%, 7/15/25    7/11 at 101.00    BBB+    186,395 
2,500    Metropolitan Transportation Authority, New York, Transportation Revenue Bonds, Series 2007B,    11/17 at 100.00    A    2,569,500 
     5.000%, 11/15/33             
500    Metropolitan Transportation Authority, New York, Transportation Revenue Refunding Bonds,    11/12 at 100.00    AAA    542,665 
     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+    918,973 
     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    1,087,000 
     Airport – American Airlines Inc., Series 2002B, 8.500%, 8/01/28 (Alternative Minimum Tax)             
670    New York State Thruway Authority, General Revenue Bonds, Series 2005F, 5.000%, 1/01/30 –    1/15 at 100.00    AAA    694,609 
     AMBAC Insured             
400    New York State Thruway Authority, General Revenue Bonds, Series 2005G, 5.000%, 1/01/30 –    7/15 at 100.00    AAA    417,396 
     FSA Insured             
500    Niagara Frontier Airport Authority, New York, Airport Revenue Bonds, Buffalo Niagara    4/09 at 101.00    AAA    513,270 
     International 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    AAA    1,041,920 
435     5.000%, 12/01/31 – XLCA Insured    6/15 at 101.00    AAA    452,378 
430    Port Authority of New York and New Jersey, One Hundred and Forty Eighth Consolidated Revenue    8/17 at 100.00    AAA    493,533 
     Bonds, RITES Trust 1516, 7.411%, 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    2,619,475 
     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    AAA    901,469 
800     5.250%, 11/15/22 – MBIA Insured    11/12 at 100.00    AAA    853,680 
12,795    Total Transportation            13,292,263 
    U.S. Guaranteed – 10.5% (10.4% of Total Investments) (4)             
220    Albany Parking Authority, New York, Revenue Bonds, Series 2001A, 5.625%, 7/15/25    7/11 at 101.00    N/R (4)    240,647 
     (Pre-refunded 7/15/11)             
2,980    Dormitory Authority of the State of New York, Judicial Facilities Lease Revenue Bonds, Suffolk    No Opt. Call    AAA    3,529,182 
     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    4/08 at 107.92    Baa1 (4)    33,209 
     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    AAA    3,198,279 
     Meadows Project, Series 1998A, 5.250%, 8/01/38 (Pre-refunded 8/01/08)             
325    Erie County Tobacco Asset Securitization Corporation, New York, Senior Tobacco Settlement    7/10 at 101.00    AAA    351,049 
     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    1/08 at 102.00    AAA    980,506 
     1997B, 5.000%, 7/01/20 – AMBAC Insured (ETM)             
    Monroe Tobacco Asset Securitization Corporation, New York, Tobacco Settlement Asset-Backed             
    Bonds, Series 2000:             
150     6.000%, 6/01/15 (Pre-refunded 6/01/10)    6/10 at 101.00    AAA    161,532 
540     6.150%, 6/01/25 (Pre-refunded 6/01/10)    6/10 at 101.00    AAA    573,691 
450    New York City Industrial Development Agency, New York, Civic Facility Revenue Bonds, Special    7/10 at 102.00    N/R (4)    495,531 
     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– (4)    796,440 
     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    AAA    1,142,040 
     Series 1994, 7.250%, 11/01/11 – MBIA Insured (Alternative Minimum Tax) (ETM)             
2,600    Triborough Bridge and Tunnel Authority, New York, General Purpose Revenue Bonds, Series 1999B,    1/22 at 100.00    AAA    3,002,868 
     5.500%, 1/01/30 (Pre-refunded 1/01/22)             
1,120    Yonkers Industrial Development Agency, New York, Revenue Bonds, Community Development    2/11 at 100.00    BBB- (4)    1,236,077 
     Properties – Yonkers Inc. Project, Series 2001A, 6.625%, 2/01/26 (Pre-refunded 2/01/11)             
14,245    Total U.S. Guaranteed            15,741,051 
    Utilities – 7.2% (7.1% 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    AAA    1,588,110 
1,500     5.000%, 12/01/24 – FGIC Insured    6/16 at 100.00    AAA    1,582,650 
250    Long Island Power Authority, New York, Electric System General Revenue Bonds, Series 2006B,    6/16 at 100.00    AAA    258,935 
     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–    1,004,630 
     Series 2003, 5.250%, 6/01/27 (Alternative Minimum Tax)             
1,000    New York City Industrial Development Agency, New York, Revenue Bonds, Brooklyn Navy Yard    10/08 at 102.00    BBB–    967,170 
     Cogeneration Partners LP, Series 1997, 5.750%, 10/01/36 (Alternative Minimum Tax)             
1,500    New York State Energy Research and Development Authority, Pollution Control Revenue Bonds, New    3/08 at 101.50    AAA    1,523,910 
     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    503,470 
     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    252,930 
     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    1,558,545 
25    Power Authority of the State of New York, General Revenue Bonds, Series 2006A, 5.000%,    11/15 at 100.00    AAA    26,792 
     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    961,810 
575     5.500%, 1/01/23 (Alternative Minimum Tax)    1/09 at 101.00    N/R    528,534 
10,600    Total Utilities            10,757,486 
    Water and Sewer – 2.0% (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    445,556 
     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+    1,617,240 
     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+    795,663 
     Bonds, Fiscal Series 2003A, 5.375%, 6/15/19             
2,655    Total Water and Sewer            2,858,459 
$      144,550    Total Investments (cost $146,276,874) – 100.2%            150,656,760 
    Floating Rate Obligations – (1.2)%            (1,837,500) 
    Other Assets Less Liabilities – 1.0%            1,500,910 
    Net Assets – 100%          $  150,320,170 

Forward Swaps outstanding at December 31, 2007:                         
        Fund            Fixed Rate            Unrealized 
    Notional    Pay/Receive    Floating Rate    Fixed Rate    Payment    Effective    Termination    Appreciation 
Counterparty    Amount    Floating Rate    Index    (Annualized)    Frequency    Date (5)    Date    (Depreciation) 
Goldman Sachs    $2,200,000    Pay    3-Month USD-LIBOR               5.902%    Semi-Annually    7/01/08    7/01/33    $272,305 
USD-LIBOR (United States Dollar-London Inter-Bank Offered Rate)                     

(1)    All percentages shown in the Portfolio of Investments are based on net assets 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 AAA ratings shown in the Portfolio of Investments reflect the AAA ratings on certain bonds insured 
    by AMBAC, FGIC, XCLA or MBIA and/or the A ratings on certain bonds insured by ACA as of December 31, 
    2007. During December 2007, at least one rating agency reduced the rating for ACA bonds to CCC. 
    Subsequent to December 31, 2007, at least one rating agency reduced the rating for AMBAC-insured bonds 
    to AA, the rating for XCLA-insured bonds to A and the rating for FGIC-insured bonds to A3. One or more 
    rating agencies have placed each of these insurers on “negative credit watch”, which may presage one or 
    more rating reductions for such insurer or insurers in the future. If one or more insurers’ ratings are reduced 
    below AAA (or A in the case of ACA) by these rating agencies, it would likely reduce the effective rating of 
    many of the bonds insured by that insurer or insurers. 
(4)    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. 
(5)    Effective date represents the date on which both the Fund and counterparty commence interest payment 
    accruals on each forward swap contract. 
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 the treatment of paydown gains and losses, 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 December 31, 2007, the cost of investments was $144,149,698.

Gross unrealized appreciation and gross unrealized depreciation of investments at December 31, 2007, were as follows:

Gross unrealized:     
  Appreciation    $5,497,896 
  Depreciation    (828,322) 
Net unrealized appreciation (depreciation) of investments    $4,669,574 

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: 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         February 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         February 29, 2008        

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

Date        February 29, 2008        

* Print the name and title of each signing officer under his or her signature.