On August 14, 1996, about 1920 eastern daylight time, a Boeing 727-232, N533DA, operated by Delta Airlines as flight 801, experienced a turbine failure of the number two engine, during departure from LaGuardia Airport, Flushing, New York. The airplane received minor damage, and the occupants were not injured. Visual meteorological conditions existed and an instrument flight plan was filed. The destination was Tampa, Florida and the flight was operated under the provisions of 14 CFR Part 121. The pilot reported that shortly after takeoff, there was a compressor stall, followed by a loss of engine power, and an abnormal oil pressure reading. The engine was shut down and the flight diverted to John F. Kennedy Airport for a landing. After landing, the flight taxied to the gate where the passengers deplaned normally through the jetway. Debris came to rest in a residential area where a vehicle was struck. Examination of the engine revealed that turbine parts punctured through the turbine exhaust case in several locations but were contained by the fan exit duct. All the 4th stage turbine blades were fractured across the airfoil just above the platform and were retained in the disk. Twelve of the twenty-five 4th stage turbine vane clusters were missing and the remaining clusters showed considerable trailing edge damage. All the 3rd stage turbine blades and vanes exhibited minor secondary damage with no blade or vane damage observed forward of the 3rd stage. The engine had accumulated 235 flight hours and 171 cycles prior to the incident since its last heavy maintenance inspection. The investigation did not reveal the exact origin of the turbine failure.