Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
JAFFE JONATHAN M
  2. Issuer Name and Ticker or Trading Symbol
LENNAR CORP /NEW/ [LEN, LEN.B]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Vice President and C.O.O.
(Last)
(First)
(Middle)
700 NORTHWEST 107TH AVENUE
3. Date of Earliest Transaction (Month/Day/Year)
12/16/2004
(Street)

MIAMI, FL 33172
4. If Amendment, Date Original Filed(Month/Day/Year)
6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Class A Common Stock               138,410 D (1)  
Class B Common Stock               25,468 D (2)  
Class A Common Stock               2,236 I By ESOP Trust
Class B Common Stock               222 I By ESOP Trust

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
(Month/Day/Year)
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Class A Common Stock (3) $ 0             08/08/1988(4) 08/08/1988(4) Class A Common Stock 140,000   140,000 D  
Class B Common Stock (3) $ 0             08/08/1988(4) 08/08/1988(4) Class B Common Stock 14,000   14,000 D  
Option $ 55 12/16/2004   A   10,000   12/16/2005 12/16/2009 Class A Common Stock 10,000 $ 0 0 D  
Option $ 55 12/16/2004   A   30,000   12/16/2006 12/16/2009 Class A Common Stock 30,000 $ 0 0 D  
Option $ 55 12/16/2004   A   30,000   12/16/2007 12/16/2000 Class A Common Stock 30,000 $ 0 0 D  
Option $ 55 12/16/2004   A   30,000   12/16/2008 12/16/2009 Class A Common Stock 30,000 $ 0 0 D  
Option $ 0 (4)             08/08/1988(4) 08/08/1988(4) Class A Common Stock 580,000   580,000 D  
Option $ 0 (4)             08/08/1988(4) 08/08/1988(4) Class B Common Stock 33,000   33,000 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
JAFFE JONATHAN M
700 NORTHWEST 107TH AVENUE
MIAMI, FL 33172
      Vice President and C.O.O.  

Signatures

 Bruce E. Gross as Attorney-In-Fact for Jonathan M. Jaffe   12/20/2004
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Includes 60,000 shares held pursuant to a Restricted Stock Plan, subject to forfeiture, vesting on 6/22/05.
(2) Includes 6,000 shares held pursuant to a Restricted Stock Plan, subject to forfeiture, vesting on 6/22/05.
(3) Contractual right to receive shares in the future.
(4) No activity is being reported. The SEC staff has designated 8/8/88 as a "dummy date." Information is included to disclose holdings following the reported transactions or other holdings not affected by the reported transactions.

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