Square announced last week it will open a permanent office in New York just a mile from Wall Street, according to a press release. The office will be located at 375 W. Broadway in the SoHo neighborhood.

Square expects to move into its new location this summer.

"New York exerts a significant impact upon global commerce, technology, and art — something we do every day at Square as we help local sellers grow their business with simple and beautiful tools," Demetrios Marantis, head of international government, regulatory, and policy work at Square, said in a statement. "We are inspired by the innovation in New York State and thrilled to be near the world's leading financial center and part of its ever-growing tech industry."

In October 2012, Square acquired New York design agency 80/20 and opened its first New York office. The new SoHo office will allow Square to expand its New York team to more than 350 employees. With more than 800 employees worldwide, Square also has offices in San Francisco, Atlanta, Kitchener-Waterloo, Ontario, and Tokyo.

"Square's decision to create a new East Coast headquarters in SoHo is the latest in a growing trend of start-up, innovative tech industry firms that have chosen New York State as the place to expand their business," Governor Andrew M. Cuomo said in a statement. "With a highly talented workforce, a government committed to cutting barriers to growth, and a business climate that inspires innovation, the rapid expansion of the tech sector in New York State proves our economic strategy is working. I welcome Square to New York, and congratulate the company on this decision to expand here in SoHo and grow their business by 350 employees."

Square's announcement came just a few days after the Wall Street Journal reported the company was discussing a possible sale to the likes of either Google or Apple. The company has denied it is for sale.