SAN MATEO -- Police were looking for two masked robbers who held up a 70-year-old man at gunpoint Friday.

The armed suspects, who wore bandannas over their faces, robbed the San Mateo man in the 1100 block of Tanglewood Way around 3:15 p.m., said San Mateo police Sgt. Dave Norris. The pair escaped in a dark maroon or purple Nissan four-door vehicle driven by a third suspect.

Police also announced Friday they arrested 23-year-old Matthew Ramirez of San Mateo on suspicion of stealing a bicycle -- valued at more than $5,000 -- from an open garage on Lyonridge Lane where the door was left open.

People with information about the robbery can call San Mateo police at 650-522-7650.

Contact Joshua Melvin at 650-348-4335. Follow him at Twitter.com/melvinreport.