Anthony Bello, 77, was found stabbed to death on a park bench in Pershing Field Park Sunday morning, not far from his home.
Bello was well-known in the community, where he used to teach at St. Nicholas and coach baseball.
Police say the suspect, 68-year-old Charles Lowy, also lives in the neighborhood.
Lowy is facing charges of murder, unlawful possession of a weapon and possession of a weapon for an unlawful purpose.
Prosecutors say that Bello and Lowy had an altercation in the park.
Bello was being honored at a wake Wednesday.
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