Select your null layer, and add an expression slider by choosing Effect > Expression Controls > Slider Control.
In your timeline, open up the null layer to show this expression slider control.
Select your other layer. Press p to show the Position. Right-click the word Position and choose ‘Separate Dimensions’. It will now show the x and y (and z if it’s a 3D layer) separately.
alt-click on the stopwatch next to ‘Y Position’. An expression will appear. While the text in the expression is still highlighted, drag the pick-whip (the little spiral thing) onto the word ‘Slider’ on the null layer. This will replace that expression text with text describing the null layer’s slider expression. Press Enter (not Return) to confirm the expression. Drag your slider around to see the other layer move.
That’s it.
– Paul