Schaffer, who lives on West 12th Street, has a pacemaker and walks with a cane.
The 91-year-old says he was mugged just before 2 p.m. after he withdrew $400 from his bank and headed back towards his apartment.
As he walked through the lobby of his building, the suspect allegedly followed him and simply walked past the security guard at the front desk before attacking in the elevator.
After being thrown up against the wall, Schaffer offered the money, but begged to keep his wallet. The suspect complied before fleeing the scene.
The suspect is described as a black man in his 40s wearing a black shirt, white and black jeans and white sneakers.
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