In New York a charge of petit larcney is a Class A misdemeanor and is punishable by fines and up to one year in jail.  The fact that you are a juvenile and this is your first offense are in your favor.You should get yourself an attorney.  He/she may well be able to get some form of alternative sentencing for you.  This would help keep your criminal record clean.  You are only 16 and don't want to have to explain this incident for years to come.