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||4.09%||4.03%|
|15 yr fixed||3.25%||3.18%|
|30 yr refi||4.12%||4.07%|
|15 yr refi||3.29%||3.19%|
Today's featured rates:
Shares of several uranium miners are soaring this year on hopes that Donald Trump will commit more investments to nuclear power. But investors need to get careful. The stocks are as volatile as radioactive elements. More
President Trump promised to 'buy American and hire American.' He says his policies will create 25 million new jobs, the most of any U.S. president in history. CNNMoney lays out just how hard that will be. More
In 1998, Ntsiki Biyela won a scholarship to study wine making. Now she's about to launch her own brand. More
If you're smart about when you first claim Social Security, you can increase your benefits and reap the rewards for the rest of your life. More