34-year-old Adrian Blanc was struck and killed by a Jeep as he crossed the street in Union Square in November.
The driver stopped briefly, but then sped off.
Police say 23-year-old Xavier Ward of Brooklyn has been arrested.
The victim's brother, Agner Blanc, is still coming to grips with his loss, but is grateful for the arrest.
"You shouldn't be able to just walk away from something like that so easily, and it's going to be a long road, it's a lot of pain that's involved, and hopefully this can bring some sort of justice," Agner Blanc said.
The victim was engaged.
He died a month before he would have been married.