Odane A. Roye, 31, was taken into custody Tuesday and is accused of carrying out the attack at around 10:30 p.m. on April 16 near 1765 University Ave.
Authorities say Roye allegedly started an argument with the man before taking out a knife and stabbing him twice in the back.
EMS took the 58-year-old to St. Barnabas Hospital. Police say he is expected to recover.
Roye is charged with assault and criminal possession of a weapon.