<ARTICLE> 5 <PERIOD-TYPE> 3-MOS <FISCAL-YEAR-END> DEC-31-1998 <PERIOD-END> MAR-31-1998 <CASH> 3,985,499 <SECURITIES> 0 <RECEIVABLES> 29,308 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 4,014,807 <PP&E> 11,653,381 <DEPRECIATION> 0 <TOTAL-ASSETS> 15,668,188 <CURRENT-LIABILITIES> 92,525 <BONDS> 1,172,249 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 0 <OTHER-SE> 14,403,414 <TOTAL-LIABILITY-AND-EQUITY> 15,668,188 <SALES> 701,114 <TOTAL-REVENUES> 751,771 <CGS> 190,487 <TOTAL-COSTS> 190,487 <OTHER-EXPENSES> 166,306 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 0 <INCOME-PRETAX> 394,978 <INCOME-TAX> 0 <INCOME-CONTINUING> 394,978 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 394,978 <EPS-PRIMARY> 9.80 <EPS-DILUTED> 9.80