What constitutes grand larceny in new jersey?

In New Jersey, grand larceny, classified as theft of property valued at $500 or more, involves unlawfully taking someone else's property with the intent to permanently deprive the owner of it. This offense is typically charged as a third-degree crime, but it can escalate to a second-degree crime if the property stolen is valued at $75,000 or more, or if the theft involves certain circumstances, such as theft of a firearm. Penalties can include significant fines and imprisonment, depending on the severity of the offense.