-- Converted by SEC Publisher, created by BCL Technologies Inc., for SEC Filing

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 811-21124

Name of Fund: BlackRock New York Municipal Income Trust II (BFY)

Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809

Name and address of agent for service: Donald C. Burke, Chief Executive Officer, BlackRock New York Municipal Income Trust II, 800 Scudders Mill Road, Plainsboro, NJ, 08536. Mailing address: P.O. Box 9011, Princeton, NJ, 08543-9011

Registrant’s telephone number, including area code: (800) 882-0052, Option 4

Date of fiscal year end: 08/31/2008

Date of reporting period: 09/01/2007 – 11/30/2007

Item 1 – Schedule of Investments



BlackRock New York Municipal Income Trust II    
Schedule of Investments as of November 30, 2007 (Unaudited)  
(in Thousands)
   
Face
       
   
Amount
  Municipal Bonds   Value
New York - 144.9%        $ 345     Albany, New York, IDA, Civic Facility Revenue Bonds (New Covenant Charter School Project), Series A,    
        7% due 5/01/2025 $    288
    220   Albany, New York, IDA, Civic Facility Revenue Bonds (New Covenant Charter School Project), Series A,    
        7% due 5/01/2035   180
    1,710   Clarence, New York, IDA, Civic Facility Revenue Bonds (Bristol Village Project), 6% due 1/20/2044 (e)   1,848
    4,000   Dutchess County, New York, IDA, Civic Facility Revenue Bonds (Vassar College Project), 5.35% due 8/01/2011 (g)   4,330
    625   Essex County, New York, IDA, Solid Waste Disposal, Revenue Refunding Bonds (International Paper Company), AMT,    
        Series A, 5.50% due 10/01/2026   611
    250   Genesee County, New York, IDA, Civic Facility Revenue Refunding Bonds    
        (United Memorial Medical Center Project), 5% due 12/01/2027   228
    3,250   Geneva, New York, IDA, Civic Facility Revenue Refunding Bonds (Hobart and William Smith Project), Series A, 5.375% due    
        2/01/2033   3,384
    385   Herkimer County, New York, IDA, Civic Facility Revenue Bonds (Herkimer College Foundation Inc.),    
        6.25% due 8/01/2034   399
    3,515   Long Island Power Authority, New York, Electric System Revenue Bonds, 5.04% due 6/01/2028 (h)(d)   1,348
    5,000   Metropolitan Transportation Authority, New York, Dedicated Tax Fund Revenue Refunding Bonds, Series A,    
        5% due 11/15/2030   5,112
    2,000   Metropolitan Transportation Authority, New York, Revenue Refunding Bonds, Series A, 5.25% due 11/15/2031 (c)   2,104
    5,000   Metropolitan Transportation Authority, New York, Service Contract Revenue Refunding Bonds, Series A,    
        5.125% due 1/01/2029   5,167
    1,420   New York City, New York, City Housing Development Corporation, M/F Housing Revenue Bonds, AMT,    
        Series J-2, 4.75% due 11/01/2027   1,367
    980   New York City, New York, City IDA, Mortgage Revenue Bonds (Eger Harbor House Inc. Project), Series A,    
        4.95% due 11/20/2032 (e)   984
    975   New York City, New York, City IDA, Mortgage Revenue Bonds (Eger Harbor House Inc. Project), Series A,    
        5.875% due 5/20/2044 (e)   1,063
    500   New York City, New York, City IDA, PILOT Revenue Bonds (Queens Baseball Stadium Project),    
        5% due 1/01/2039 (b)   516
    2,250   New York City, New York, City IDA, PILOT Revenue Bonds (Queens Baseball Stadium Project),    
        5% due 1/01/2046 (b)   2,306
    1,000   New York City, New York, City IDA, Revenue Bonds (IAC/InterActiveCorp Project), 5% due 9/01/2035   923
  Portfolio Abbreviations
  To simplify the listings of BlackRock New York Municipal Income Trust II's portfolio holdings in the Schedule of Investments, we have abbreviated the names of many of the securities according to the list below.
      AMT Alternative Minimum Tax (subject to) M/F Multi-Family
  COP Certificates of Participation PILOT Payment in Lieu of Taxes
  GO General Obligation Bonds TFABS Tobacco Flexible Amortization Bonds
  IDA Industrial Development Authority    
  IDR Industrial Development Revenue Bonds    

1

BlackRock New York Municipal Income Trust II    
Schedule of Investments as of November 30, 2007 (Unaudited)  
(in Thousands)
    Face        
    Amount     Municipal Bonds  
Value
                                $ 1,600   New York City, New York, City IDA, Special Facility Revenue Bonds    
      (American Airlines, Inc. - JFK International Airport), AMT, 7.625% due 8/01/2025 $    1,753
  1,500   New York City, New York, City IDA, Special Facility Revenue Bonds    
      (Continental Airlines Inc. Project), AMT, 7.75% due 8/01/2031   1,652
  1,100   New York City, New York, City Municipal Water Finance Authority, Second General Resolution, Water and Sewer System    
      Revenue Bonds, Series AA, 4.50% due 6/15/2037 (k)   1,074
  450   New York City, New York, City Municipal Water Finance Authority, Water and Sewer System Revenue Bonds,    
      Series A, 4.25% due 6/15/2039 (d)   420
  5,000   New York City, New York, City Municipal Water Finance Authority, Water and Sewer System, Revenue Refunding Bonds,    
      Series A, 5.125% due 6/15/2034   5,143
  5,000   New York City, New York, City Transit Authority, Metropolitan Transportation Authority, Triborough COP,    
      Series A, 5.25% due 1/01/2010 (b)(g)   5,254
  500   New York City, New York, City Transitional Finance Authority, Building Aid Revenue Bonds, Series S-1,    
      5% due 7/15/2031 (c)   524
  3,000   New York City, New York, City Transitional Finance Authority, Building Aid Revenue Bonds, Series S-2,    
      4.50% due 1/15/2031 (c)   2,974
  250   New York City, New York, City Transitional Finance Authority, Building Aid Revenue Bonds, Series S-2,    
      4.25% due 1/15/2034 (c)   237
  5,000   New York City, New York, City Transitional Finance Authority, Future Tax Secured,    
      Revenue Refunding Bonds, Series B, 5% due 11/01/2027   5,193
  1,500   New York City, New York, GO, Series A, 5% due 8/01/2030   1,534
  4,000   New York City, New York, GO, Series B, 5.75% due 12/01/2011 (g)   4,379
  1,500   New York City, New York, IDA, Civic Facility Revenue Bonds (Lycee Francais de New York Project), Series A, 5.375% due    
      6/01/2023 (a)   1,478
  1,000   New York City, New York, IDA, Civic Facility Revenue Refunding Bonds (Polytechnic University),    
      5.25% due 11/01/2037 (a)   908
  3,000   New York Convention Center Development Corporation, New York, Revenue Bonds (Hotel Unit Fee Secured),    
      5% due 11/15/2035 (b)   3,110
  2,535   New York Counties Tobacco Trust III, Tobacco Settlement Pass-Through Bonds, 6% due 6/01/2043   2,599
  675   New York Liberty Development Corporation Revenue Bonds (National Sports Museum Project), Series A,    
      6.125% due 2/15/2019   678
  1,500   New York State Dormitory Authority, Mortgage Hospital Revenue Bonds (Saint Barnabas Hospital), Series A,    
      5% due 2/01/2031 (b)(m)   1,535
  500   New York State Dormitory Authority, Non-State Supported Debt Revenue Bonds (Manhattan College), Series B, 5.30% due    
      7/01/2037 (n)   500
  530   New York State Dormitory Authority, Non-State Supported Debt Revenue Bonds    
      (New York University Hospitals Center), Series B, 5.625% due 7/01/2037   519
  250   New York State Dormitory Authority, Non-State Supported Debt Revenue Bonds    
      (School District Financing Program), Series A, 5% due 10/01/2035 (d)   261

2

BlackRock New York Municipal Income Trust II    
Schedule of Investments as of November 30, 2007 (Unaudited)  
(in Thousands)
    Face        
    Amount     Municipal Bonds  
Value
 
$
500   New York State Dormitory Authority, Non-State Supported Debt, Revenue Refunding Bonds    
        (Mount Sinai School of Medicine of New York University), 5% due 7/01/2035 (k) $    522
    2,500   New York State Dormitory Authority Revenue Bonds (Brooklyn Law School), Series B, 5.125% due 7/01/2030 (l)   2,585
    1,425   New York State Dormitory Authority Revenue Bonds (New School University), 5% due 7/01/2031 (k)   1,454
    2,000   New York State Dormitory Authority, Revenue Refunding Bonds (Kateri Residence), 5% due 7/01/2022   2,071
    2,000   New York State Dormitory Authority, Revenue Refunding Bonds (Mount Saint Mary College Project),    
        5% due 7/01/2032   1,958
    5,500   New York State Energy Research and Development Authority, Facilities Revenue Bonds    
        (Consolidated Edison Company of New York, Inc. Project), AMT, 4.70% due 6/01/2036   5,503
    1,500   New York State Energy Research and Development Authority, Gas Facilities Revenue Refunding Bonds    
        (Brooklyn Union Gas Company/Keyspan), AMT, Series A, 4.70% due 2/01/2024 (c)   1,495
    2,000   New York State Urban Development Corporation, Personal Income Tax Revenue Bonds, Series B, 5% due 3/15/2035   2,072
    3,500   Port Authority of New York and New Jersey, Special Obligation Revenue Bonds    
        (Continental Airlines, Inc. - LaGuardia Project), AMT, 9.125% due 12/01/2015   3,628
    450   Suffolk County, New York, IDA, Continuing Care and Retirement, Revenue Refunding Bonds    
        (Jeffersons Ferry Project), 5% due 11/01/2028   421
    2,500   Suffolk County, New York, IDA, IDR (Keyspan-Port Jefferson), AMT, 5.25% due 6/01/2027   2,521
    8,000   TSASC, Inc., New York, TFABS, Series 1, 5.75% due 7/15/2012 (g)   8,838
    150   Triborough Bridge and Tunnel Authority, New York, Revenue Refunding Bonds, Series A, 5% due 1/01/2032   153
Puerto Rico - 8.5%           500   Children's Trust Fund Project of Puerto Rico, Tobacco Settlement Revenue Refunding Bonds,    
        5.625% due 5/15/2043   492
    2,000   Puerto Rico Commonwealth Highway and Transportation Authority, Transportation Revenue Refunding Bonds,    
        Series D, 5.375% due 7/01/2012 (g)   2,178
    3,000   Puerto Rico Commonwealth Highway and Transportation Authority, Transportation Revenue Refunding Bonds,    
        Series N, 5.25% due 7/01/2039 (c)   3,178
    5,000   Puerto Rico Sales Tax Financing Corporation, Sales Tax Revenue Refunding Bonds, Series A, 5.14% due 8/01/2054 (h)(b)   451
        Total Municipal Bonds (Cost - $109,773) - 153.4%   113,403
        Corporate Bonds    
Multi-State - 5.8%   500   Charter Mac Equity Issuer Trust, 5.75% due 4/30/2015 (j)   536
    1,500   Charter Mac Equity Issuer Trust, 6% due 4/30/2015 (j)   1,598
    1,000   Charter Mac Equity Issuer Trust, 6% due 4/30/2019 (j)   1,093
    1,000   Charter Mac Equity Issuer Trust, 6.30% due 4/30/2019 (j)   1,088
        Total Corporate Bonds (Cost - $4,000) - 5.8%   4,315

3

BlackRock New York Municipal Income Trust II    
Schedule of Investments as of November 30, 2007 (Unaudited)  
(in Thousands)
  Shares          
  Held   Short-Term Securities  
Value
 
  415     CMA New York Municipal Money Fund, 3.07% (f)(i) $ 415  
      Total Short-Term Securities (Cost - $415) - 0.6%   415  
                                       Total Investments (Cost - $114,188*) - 159.8%   118,133  
      Other Assets Less Liabilities - 0.6%   463  
      Preferred Shares, at Redemption Value - (60.4%)   (44,660 )
      Net Assets Applicable to Common Shares - 100.0% $ 73,936  
   
*    

The cost and unrealized appreciation (depreciation) of investments as of November 30, 2007, as computed for federal income tax purposes, were as follows:
   
Aggregate cost
$
                114,027  
Gross unrealized appreciation
$
4,707  
Gross unrealized depreciation   (601 )
Net unrealized appreciation
  $
4,106  
   
(a)   

ACA Insured.
(b)

AMBAC Insured.
(c)

FGIC Insured.
(d)

FSA Insured.
(e)

GNMA Collateralized.
(f)

Investments in companies considered to be an affiliate of the Trust, for purposes of Section 2(a)(3) of the Investment Company Act of 1940, were as follows:
   
Affiliate Net Activity           Dividend Income
CMA New York Municipal Money Fund (496)   $5
   
(g)   

Prerefunded.
(h)

Represents as zero coupon bond; the interest rate shown reflects the effective yield at the time of purchase.
(i)

Represents the current yield as of November 30, 2007.
(j)

The security may be offered and sold to "qualified institutional buyers" under Rule 144A of the Securities Act of 1933.
(k)

MBIA Insured.
(l)

XL Capital Insured.
(m)

FHA Insured.
(n)

Radian Insured.
 

4

BlackRock New York Municipal Income Trust II    
Schedule of Investments as of November 30, 2007 (Unaudited)  
(in Thousands)

•    Forward interest rate swaps outstanding as of November 30, 2007 were as follows:

    Notional         Unrealized  
    Amount     Depreciation  
Pay a fixed rate of 4.026% and receive a floating rate based on 1-week            
(SIFMA) Municipal Swap Index rate            
Broker, Citibank N.A.            
Expires December 2032 $
           3,500
  $ (153 )   
 
Pay a fixed rate of 4.065% and receive a floating rate based on 1-week            
(SIFMA) Municipal Swap Index rate            
Broker, Citibank N.A.            
Expires December 2037 $
2,500
    (120 )
Total       $ (273 )

 

 

5


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) 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 New York Municipal Income Trust II

By:      /s/ Donald C. Burke               
             Donald C. Burke,
            Chief Executive Officer of
            BlackRock New York Municipal Income Trust II

Date: January 16, 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:      /s/ Donald C. Burke               
             Donald C. Burke,
            Chief Executive Officer (principal executive officer) of
            BlackRock New York Municipal Income Trust II

Date: January 16, 2008

By:      /s/ Neal J. Andrews               
            Neal J. Andrews,
            Chief Financial Officer (principal financial officer) of
            BlackRock New York Municipal Income Trust II

Date: January 16, 2008