-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 UrLGyx2JU2ERdvrd5X7thHBBGMEW/QgBObPx8hZWrwnu0VNVHL8UtOEWWEwsnR93
 M3e70jN7ojVxcdLxnO06ug==

<SEC-DOCUMENT>0001179110-03-004687.txt : 20030801
<SEC-HEADER>0001179110-03-004687.hdr.sgml : 20030801
<ACCEPTANCE-DATETIME>20030801140537
ACCESSION NUMBER:		0001179110-03-004687
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030731
FILED AS OF DATE:		20030801

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			CAPITAL CROSSING PREFERRED CORP
		CENTRAL INDEX KEY:			0001072806
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE [6500]
		IRS NUMBER:				043439366
		STATE OF INCORPORATION:			MA
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		101 SUMMER ST
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02110
		BUSINESS PHONE:		6178801000

	MAIL ADDRESS:	
		STREET 1:		101 SUMMER ST
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02110

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ATLANTIC PREFERRED CAPITAL CORP
		DATE OF NAME CHANGE:	19981102

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			LAPIDUS JOHN
		CENTRAL INDEX KEY:			0001227304

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-25193
		FILM NUMBER:		03817527

	MAIL ADDRESS:	
		STREET 1:		C/O CAPITAL CROSSING PREFERRED CORP
		STREET 2:		101 SUMMER ST
		CITY:			BOSTON
		STATE:			MA
		ZIP:			02110
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>edgar.xml
<DESCRIPTION>FORM 4 -
<TEXT>
<XML>
<ownershipDocument>
    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType>
<periodOfReport>2003-07-31</periodOfReport>
<notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0001072806</issuerCik>
        <issuerName>CAPITAL CROSSING PREFERRED CORP</issuerName>
        <issuerTradingSymbol>ccpco</issuerTradingSymbol>
</issuer>
<reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001227304</rptOwnerCik>
            <rptOwnerName>LAPIDUS JOHN</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O CAPITAL CROSSING PREFERRED CORP.</rptOwnerStreet1>
            <rptOwnerStreet2>101 SUMMER STREET</rptOwnerStreet2>
            <rptOwnerCity>BOSTON</rptOwnerCity>
            <rptOwnerState>MA</rptOwnerState>
            <rptOwnerZipCode>02110</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
<isDirector>1</isDirector>
<isOfficer>0</isOfficer>
<isTenPercentOwner>0</isTenPercentOwner>
<isOther>0</isOther>
<officerTitle></officerTitle>
<otherText></otherText>
</reportingOwnerRelationship>
</reportingOwner>
<nonDerivativeTable><nonDerivativeTransaction><securityTitle><value>Series C Preferred Stock</value>
</securityTitle>
<transactionDate><value>2003-07-31</value>
</transactionDate>
<transactionCoding><transactionFormType>4</transactionFormType>
<transactionCode>P</transactionCode>
<equitySwapInvolved>0</equitySwapInvolved>
</transactionCoding>
<transactionAmounts><transactionShares><value>5000</value>
</transactionShares>
<transactionPricePerShare><value>11.4179</value>
</transactionPricePerShare>
<transactionAcquiredDisposedCode><value>A</value>
</transactionAcquiredDisposedCode>
</transactionAmounts>
<postTransactionAmounts><sharesOwnedFollowingTransaction><value>5000</value>
</sharesOwnedFollowingTransaction>
</postTransactionAmounts>
<ownershipNature><directOrIndirectOwnership><value>D</value>
</directOrIndirectOwnership>
</ownershipNature>
</nonDerivativeTransaction>
<nonDerivativeHolding><securityTitle><value>Series A Preferred Stock</value>
</securityTitle>
<postTransactionAmounts><sharesOwnedFollowingTransaction><value>2500</value>
</sharesOwnedFollowingTransaction>
</postTransactionAmounts>
<ownershipNature><directOrIndirectOwnership><value>D</value>
</directOrIndirectOwnership>
</ownershipNature>
</nonDerivativeHolding>
</nonDerivativeTable>
<footnotes></footnotes>
<ownerSignature><signatureName>/s/ John Lapidus</signatureName>
<signatureDate>2003-08-01</signatureDate>
</ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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