Officers arrested Ariel Velasquez, 19, and Ramon Santos, 28, on several charges, including murder and attempted murder.
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The 18-year-old killed in the shooting has been identified as Moise Figueroa.
The victim was shot in a double shooting just before 2:30 a.m. Wednesday morning on Morris Avenue in the Tremont section of the Bronx.
Upon arrival, officers found the victim with a gunshot wound to the leg. He was taken to Saint Barnabas Hospital, where he was pronounced dead.
A 19-year-old was also shot in that incident, but is expected to survive.
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