<ARTICLE> 5 <LEGEND> THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM FORM 10-K FOR THE YEAR ENDED DECEMBER 31, 1997 AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMTENTS. </LEGEND> <CIK> 0000718075 <NAME> CORPORATE PROPERTY ASSOCIATES 5 <PERIOD-TYPE> 12-MOS <FISCAL-YEAR-END> DEC-31-1997 <PERIOD-START> JAN-01-1997 <PERIOD-END> DEC-31-1997 <CASH> 3,046,822 <SECURITIES> 0 <RECEIVABLES> 0 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 3,046,822 <PP&E> 50,178,279 <DEPRECIATION> 11,842,460 <TOTAL-ASSETS> 44,264,553 <CURRENT-LIABILITIES> 3,530,931 <BONDS> 10,446,000 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 0 <OTHER-SE> 30,287,622 <TOTAL-LIABILITY-AND-EQUITY> 44,264,553 <SALES> 0 <TOTAL-REVENUES> 9,749,700 <CGS> 0 <TOTAL-COSTS> 0 <OTHER-EXPENSES> 6,312,261 <LOSS-PROVISION> 345,140 <INTEREST-EXPENSE> 1,363,680 <INCOME-PRETAX> 2,685,448 <INCOME-TAX> 0 <INCOME-CONTINUING> 2,685,448 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 2,685,448 <EPS-PRIMARY> 22.13 <EPS-DILUTED> 22.13