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NEW YORK CITY — Marcus & Millichap has completed the sale of a 16-unit apartment building located in the Bronx, New York City, for $1.28 million. The property is a five-story, walk-up building that features a mix of studio, one-, two- and three-bedroom units. Almost all of the units have been recently renovated. The undisclosed buyer purchased the property free and clear of debt and used the proceeds to refinance a neighboring property. Marco Lala of Marcus & Millichap's Manhattan office represented the seller, which was also undisclosed, as well as the buyer.