PHILADELPHIA — Marcus & Millichap has negotiated the $15.7 million sale of a 74-unit apartment building at 1217 Spring Garden St. in Philadelphia. The property also includes two retail spaces. Phil Sharrow and Jon Massaro of Marcus and Millichap represented the buyer, Arts & Crafts Holdings, in the transaction. The seller was Juniata Design Inc. The building is located in the Spring Arts neighborhood. The buyer plans to revitalize the nearby abandoned railway into a public park, similar to The High Line, a 1.45-mile long elevated linear park, greenway and rail trail in New York City. The first phase of the park in Philadelphia runs from Callowhill Street to Broad Street and is scheduled for completion this year.