NEW YORK, Jan 30 (Reuters) - Blackstone is in

talks to buy a sizeable stake in a New York 50-story office

building from institutional investors of JPMorgan Asset

Management, two sources familiar with the matter said on

Thursday.

The planned move comes as Blackstone executives signalled on

an earnings call that the troubled commercial real estate sector

was stabilizing.

The Manhattan building, 1345 Avenue of the Americas, is

jointly owned by institutional investors advised by J.P. Morgan

Global Alternatives and Fisher Brothers.

JPMorgan Asset has no equity interest in the building, which

is partly owned by its institutional investors, one of the

sources said.

Blackstone and JPMorgan Asset Management declined to

comment. The sources declined to be named because the talks are

not public.

In 2023 law firm Paul, Weiss, Rifkind, Wharton & Garrison

LLP signed a 20-year, 765,000 square-foot lease, initially

occupying 18 floors of the building, according to an

announcement then.

Bloomberg News earlier reported Blackstone's talks to buy

the building.