Cortland Police report the arrest of Austin Schreiner, 21, of Trumansburg, and Brock Granger, 17, of Cortland.
Police say both were arrested at about 2:50 am early Wednesday.
Both face felony charges of Robbery, Assault and Conspiracy and weapons possession.
According to police, Schreiner and Granger went to an apartment on Port Watson Street at about 1 am and robbed a 23-year old man, showing a handgun, and punching the man in the face.
The would-be robbers took $186, a wallet and watch, but police say they were quickly caught nearby.
Their victim suffered a fractured orbital bone and was treated at Cortland Regional Medical Center.
Schreiner and Granger were sent to the Cortland County Jail awaiting bail and a court appearance on Friday.