Square, a San Francisco-based startup that makes mobile-payment processors, grabbed 40,000 square feet at Real Estate Equities’ 375 West Broadway in Soho.
With the new office, Square’s total staff will grow from 35 employees to 385. The state’s Empire State Development Corporation offered $5 million in tax credits for the deal. The company raised about $100 million in venture capital financing earlier this month, Crain’s reported. One of the founders is Jack Dorsey, who also co-founded Twitter.
Last year, Midtown-based property investment firm Real Estate Equities paid $81 million for the five-story office-and-retail building, as The Real Deal reported. Trendy retailer Anthropologie is one of the tenants in the 55,700-square-foot property, between Broome and Spring streets. — Mark Maurer