A 16-year-old Cambridge resident has been arrested in connection with an armed robbery that took place Wednesday at Flagg and Banks streets, in the Riverside neighborhood.

The young man will face an armed robbery charge as well as charges associated with three outstanding warrants, one of which was a firearms-related charge, said Jeremy Warnick, director of communications and media relations for Cambridge police. An investigation into the incident is ongoing.

According to the 27-year-old victim, the robbery took place when he was walking home from Allston at around 1:20 a.m. Three people walked toward him and shoved onto a vehicle, where he was put into a chokehold and a second attacker held a handgun to the side of his stomach. The suspects went through the victim’s pockets, took his phone and wallet, and fled.

The teen had the victim’s phone when he was arrested, Warnick said.

The Wednesday street robbery was the 56th of the year, putting the city on track to match the 58 street robberies in 2016, according to police department reports. The five-year average has been 59 street robberies, though this is a marked improvement from five years ago: In 2013, there were 88 street robberies.