Police said the 55-year-old robber was carrying a pellet gun and handing a stickup note to a terrified teller when the officers closed in.
The lawmen had been canvassing the neighborhood looking for the man after an earlier attempted heist at another bank branch.
They said the suspect gave up without a struggle.
One of the arresting officers, Michael Gonzalez, told the New York Daily News that he and his partner were just in the right place at the right time.
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Information from: Daily News, http://www.nydailynews.com