WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

  

                                                                    Exhibit 27.1

<ARTICLE>       5
<LEGEND>
The schedule contains summary financial information extracted from the Company's
balance sheet as of September 30, 1998 and the  Statements of Operations for the
nine  months  ended  September  30,  1998 and is  qualified  in its  entirety by
reference  to such  financial  statements. 
</LEGEND>  
<CIK>      0001061148  
<NAME>    Pathnet, Inc. 
<MULTIPLIER> 1,000 

       

                                    
<PERIOD-TYPE>                          9-MOS
<FISCAL-YEAR-END>                            DEC-31-1998
<PERIOD-START>                               JAN-01-1998
<PERIOD-END>                                 SEP-30-1998
<CASH>                                        59,559
<SECURITIES>                                 122,658
<RECEIVABLES>                                      0
<ALLOWANCES>                                       0
<INVENTORY>                                        0
<CURRENT-ASSETS>                             186,321
<PP&E>                                        33,507
<DEPRECIATION>                                   371
<TOTAL-ASSETS>                               393,132
<CURRENT-LIABILITIES>                         36,802
<BONDS>                                      346,110
<PREFERRED-MANDATORY>                         35,970
<PREFERRED>                                        0
<COMMON>                                          29
<OTHER-SE>                                  (25,779)
<TOTAL-LIABILITY-AND-EQUITY>                 393,132
<SALES>                                        1,050
<TOTAL-REVENUES>                               1,050
<CGS>                                          5,386
<TOTAL-COSTS>                                  5,386
<OTHER-EXPENSES>                                   0
<LOSS-PROVISION>                                   0
<INTEREST-EXPENSE>                            21,862
<INCOME-PRETAX>                             (25,015)
<INCOME-TAX>                                       0
<INCOME-CONTINUING>                         (25,015)
<DISCONTINUED>                                     0
<EXTRAORDINARY>                                    0
<CHANGES>                                          0
<NET-INCOME>                                (25,015)
<EPS-PRIMARY>                                 (8.62)
<EPS-DILUTED>                                 (8.62)