480 North Street, reported as under contract yesterday, is reported sold today for $4.725. Maybe. Patriot Bank held a $3.5 million mortgage on this property and with arrears, was owed somewhere around that much. But Patriot was flogging this loan, and a dozen more, for far less than face value. Did they, as they were supposedly negotiating in good faith to sell their note at a discount, miraculously, and just in the nick of time, find a buyer willing to pay one hundred cents on the dollar? Anything is possible of course but in real estate, one never knows. I do find it curious that the buyer would pay $225,000 more than this place sold for a year ago, but maybe his broker told him that prices have increased since then.