<ARTICLE> 5 <PERIOD-TYPE> 9-MOS <FISCAL-YEAR-END> DEC-31-1997 <PERIOD-START> JAN-01-1997 <PERIOD-END> SEP-30-1997 <CASH> 3,389,000 <SECURITIES> 0 <RECEIVABLES> 307,000 <ALLOWANCES> (107,000) <INVENTORY> 0 <CURRENT-ASSETS> 3,395,000 <PP&E> 14,939,000 <DEPRECIATION> (4,448,000) <TOTAL-ASSETS> 15,147,000 <CURRENT-LIABILITIES> 171,000 <BONDS> 5,718,000 <PREFERRED-MANDATORY> 37,068,000 <PREFERRED> 0 <COMMON> 0 <OTHER-SE> (31,165,000) <TOTAL-LIABILITY-AND-EQUITY> 15,147,000<F1> <SALES> 0 <TOTAL-REVENUES> 2,582,000 <CGS> 0 <TOTAL-COSTS> 3,721,000 <OTHER-EXPENSES> 280,000<F2> <LOSS-PROVISION> 107,000 <INTEREST-EXPENSE> 1,003,000 <INCOME-PRETAX> (1,419,000) <INCOME-TAX> 0 <INCOME-CONTINUING> (1,419,000) <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> (1,419,000) <EPS-PRIMARY> (0.38) <EPS-DILUTED> (0.38) <FN> <F1>Includes $3,355,000 of Minority Interest in Joint Venture <F2>Represents Minority Interest Portion of Current net Income/(loss) </FN>