Article 155.05 New York Penal Law defines larceny specifically noting the many ways the criminal act may be performed. Petit larceny occurs when someone steals property. Grand larceny in the fourth degree is defined in an extensive manner. It includes property valued at more than $1,000. However, this is not the only defining aspect of fourth degree larceny, which is a class E felony. The fact is the property may be worth less than $1,000 but the type of property being taken makes it a class E felony.
Grand larceny in the third degree, which is a class D felony, includes property worth more than $3,000 or the theft of an automated teller machine or its contents. In committing grand larceny in the second degree, someone has taken property worth more than $50,000, or no matter what the worth of the property, someone involved in larceny has used extortion. Extortion is a threat of some sort that instills fear in the victim; it is used to get a victim to give another person their property. This is a class C felony.
Larceny in the first degree is a class B felony, and it occurs when someone steals property in excess of one million dollars. Aggravated grand larceny of a teller machine, which is a class C felony, occurs when someone who was convicted of grand larceny in the third degree in relationship to an ATM commits the crime again within five years.