The teen, whose name wasn't immediately released, was attacked near Lenox Avenue and West 110th Street about 10:30 p.m., NYPD officials said.
The suspect punched him in the face and tried to swipe the bike, but fled the scene empty-handed, police said.
The boy was treated for a bruise to his face and swelling at an area hospital, police said.
The suspect is about 5 feet 9 inches and 170 pounds, police said.
There were no immediate arrests, police said.