Police say the 52-year-old cab driver picked up the two suspects in the Bronx on Saturday and drove them to their destination.
Once there, the suspects placed the driver in a chokehold and threatened him with a hammer.
Police say they then robbed the victim of his property and drove off in his cab.
In a separate incident on Wednesday, a livery cab driver was stabbed in the stomach and remains in critical condition at Jacobi Hospital.
The New York State Federation of Taxi Drivers is offering a reward for information leading to the arrest of the two suspects.
Anyone with information is asked to call the Crime Stoppers hot line at 1-800-577-TIPS.
All calls will be kept confidential.
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