EXHIBIT 14.1 CONSENT OF INDEPENDENT AUDITORS We consent to the reference to our firm under the caption "Experts" and to the use of our report dated November 4, 1994 for Nuveen New York Municipal Value Fund, Inc., and Nuveen New York Municipal Income Fund, Inc. in the Registration Statement (Form N-14) and related Prospectus of Nuveen New York Municipal Value Fund, Inc. filed with the Securities and Exchange Commission in this Registration Statement under the Securities Act of 1933. /s/ Ernst & Young LLP --------------------- ERNST & YOUNG LLP Chicago, Illinois August 21, 1995