A spokesman for Wake Forest said university officials are aware of the arrest.
Police say Jones threw a punch that killed a New York City tourist who knocked on the assistant coach's auto window thinking it was his Uber ride. Police say Jones drove away from the scene, and Szabo was transported to a hospital, where he died Tuesday from his injuries.
According to a law enforcement official, it appeared Szabo was trying to flag down a ride after leaving a relative's wedding early Sunday when he came across Jones, who was in a white SUV.
A witness told Associated Press Mr Szabo may have been intoxicated and knocked on a number of vehicle windows before Jones allegedly hit him.
Jones' attorney told reporters "The Jones family sends condolences and will not be making further comment" but they have released a statement.
Jones, 35, is a Philadelphia native who played college basketball at Arkansas Tech.
The investigation is ongoing, and charges against Jones could be upgraded, police said.
His lawyer, Alain Massena, described the incident as a "tragic accident".
The coach's next court appearance is scheduled for October 2, the Queens district attorney's office said.
Information from The Associated Press was used in this report.
"He was always upbeat, positive, kind and caring", the company said in a Facebook post. "He was a really good person". His family says he was visiting NY from Boca Raton for a wedding. "We are going to miss him dearly".