NEW YORK (CNNMoney.com) -- Buzz on the street is that Google is well-positioned to buy out its landlords, at one of the largest buildings in New York City.
The Internet giant is already a tenant at the sprawling property, a 2.9 million-square-foot structure, that takes up an entire city block in the posh Chelsea district.
The current address of Google's New York headquarters, at 76 9th Ave., is located at the western end of the building. According to co-owner Taconic Investment Partners, the structure is the second-largest in New York City and originally served as the headquarters for the Port Authority of New York.
Taconic has sunk $50 million into the building since acquiring it in 1998 -- which includes an overhaul of elevators, lobbies, corridors, power plants and fuel delivery systems.
"Under Taconic's stewardship, the rent roll was substantially increased and the credit tenant roster today includes some of the world's recognized brands," Taconic said on its website.
Google and Taconic did not confirm to CNNMoney.com whether the deal is under discussion. But with $33.4 billion cash and marketable securities in reserves, Google seems like it could handle the purchase.
|Overnight Avg Rate||Latest||Change||Last Week|
|30 yr fixed||4.32%||4.27%|
|15 yr fixed||3.29%||3.27%|
|30 yr refi||4.29%||4.24%|
|15 yr refi||3.26%||3.25%|
Today's featured rates:
The food processing company accused of mishandling meat at its Shanghai, China plant says it will suspend sales and recall all food processed there. More
Is the economy back on track after a weak first quarter or about to get blown away? Investors will find out when the curtain is drawn on jobs and GDP data. There's also a Federal Reserve meeting. More
Target hack victims were directed to Experian for protection. But that company has leaked your data too. More
Louisiana is now the top location for motion picture filming, supporting thousands of new jobs and small businesses. More