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First Degree Grand Larceny: New York Penal Code § 155.42

What is Larceny?

According to the New York Penal Code, larceny is a crime that involves robbery or the theft of an individual’s property. If the stolen property is worth $1,000 or less, then the charge would fall into the petit larceny category. If the stolen property is worth over $1,000, then the charge would fall into the grand larceny category. Petit larceny is a misdemeanor. Grand larceny is a felony.

In terms of severity, there are four types of grand larceny and a separate but related crime known as aggravated grand larceny of an automatic teller machine.

First degree grand larceny involves assets that are taken, obtained or withheld from the owner and whose worth is greater than $1,000,000 under N.Y. Pen Regulation §155.42. It is the most severe category of grand larceny and carries a penalty of up to 25 years in jail as a class B felony. Even as a first conviction, a person may be sentenced to a minimum of one to three years in jail. If found guilty of first degree grand larceny and if within the last 10 years you have previously been convicted of a crime, you may be sentenced to four and a half to nine years in prison.

The other types of grand larceny are described in more detail separately. Use the links below to learn more about them and their related subject matter.

What is property?

Legally, the term "property" can imply nearly anything that has value. The N.Y Pen Statutes §§ 155.00, 155.30, 155.43 specifically mention property, money, personal assets, computer statistics, computer programs, proof of a debt or an agreement, gasoline, water, strength, cars, credit or debit cards, firearms, devices used to steal telephone provider information, ATM machines and their contents, and ammonia to make methamphetamine.

What is a property owner?

As detailed in the New York grand larceny statutes, a property owner is a person who has the right of possession over the right of possession of a person accused of stealing the property.

What property value is required for first degree grand larceny?

To be charged with first degree grand larceny, the prosecutor must demonstrate that the value of the property at issue was at least $1,000,000 at the time and place of the offense. If the prosecutor cannot demonstrate that the market value of the property at issue was at least $1,000,000, then a lesser grand larceny charge is warranted, and the associated prison sentence should be shorter. If the market value of the property at issue at the time and place of the offense cannot be determined, then the replacement cost of the property may be used to value the property at issue (N.Y. Pen law § 155.20).

Regardless of the property value claimed by the prosecutor, if you are charged with first degree grand larceny, a possible tactic might be to persuade the court that the value of the property was less than the minimum of $1,000,000 required for a first degree grand larceny charge, and ordinarily, the lesser grand larceny charge would result in a lesser penalty.

However, even if the charge were reduced to a lesser grand larceny category, you might still face the possibility of significant time in jail. A conviction of second degree grand larceny, a Class C felony, carries a penalty of up to 15 years of imprisonment. Convictions of third degree grand larceny and fourth degree grand larceny also indicate a substantial length of time in prison.

It is critical that you contact an experienced New York attorney specializing in first degree grand larceny as soon as you have been accused of the crime. A conviction of first degree grand larceny will most certainly adversely affect your life and the lives of your family members. The attorneys and associates at Barry C. Weiss P.C. have extensive experience and have effectively defended clients in the New York criminal courts who have been accused of first degree grand larceny as well as other serious crimes, such as robbery, homicide, computer fraud, and domestic violence.

Contact us at (855) 692-5452 or go to to schedule a free, no obligation legal consultative meeting regarding your case.

For related information refer to the following articles:

  • First Degree Grand Larceny
  • Second Degree Grand Larceny
  • Third Degree Grand Larceny
  • Fourth Degree Grand Larceny
  • Aggravated Grand Larceny of an Automated Teller System
  • Grand Larceny of a Firearm
  • Grand Larceny of a Vehicle
  • Grand Larceny through Extortion or Blackmail
  • Grand Larceny through Pick Pocketing
  • Grand Larceny through Credit Card
  • Grand Larceny through Embezzlement
  • Grand Larceny Sentencing Guidelines
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