Marquis Beckford, 22, was taken into custody after allegedly stealing the handbag from the front seat of a taxi operated by a 60-year-old woman, outside 980 Trinity Avenue.
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The officers who caught the suspect quickly recognized him from the previously released video from the deli shooting, in which James Solano was fatally shot in the neck.
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Police say Beckford had the gun used in that shooting still in his possession.
Security camera video showed the gunman pat Solano on his shoulder and walk away.
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Moments later, he pulled out the gun and fired one shot.
Beckford, who police say knew Solano, is charged with second-degree murder, manslaughter, and criminal possession of a weapon.
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