Grand Larceny is a felony-level theft offense, which means that it is punishable by a year or more in prison. The level of the sentence often depends on the value of the goods stolen. A person who steals $25,000 of property is more likely to be given a prison sentence than someone who stole $1500 of property. It is important to note that we can often get a negotiated resolution of probation in lieu of a prison sentence in many cases.