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.
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.
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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