The attack happened at about 1:30 a.m. Tuesday on Third Avenue in the Morrisania section.
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The men were walking on the street when the robbers came up to them and demanded their money.
When the two refused, they were punched and kicked about the body. The attackers took a dollar from them and fled westbound on East 164th Street.
A 60-year-old victim was hospitalized in critical condition. The other man, a 29-year-old, refused medical attention.
Anyone with information is asked to call the NYPD's Crime Stoppers Hotline at 1-800-577-TIPS (8477) or for Spanish, 1-888-57-PISTA (74782).
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Tips can also be submitted by visiting the CrimeStoppers website or Twitter @NYPDTips.
All calls are kept confidential.
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