The incident happened just before 2:30 p.m. Wednesday outside the Winter Garden Theater during the matinee performance of Mama Mia.
The 75-year-old victim was walking along 7th Avenue when police say the suspect pinned him against a wall.
He pulled money from the victim's pocket and fled the scene.
The victim was not hurt.
Anyone with information in regards to this incident is asked to call the NYPD's Crime Stoppers Hotline at 800-577-TIPS.