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