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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,
 DURKsFOYIwYLbilgxBGpHn86fIqyooZV3N1KN0GqLYcsXZ9B+8z0GbPBL7W7ep0N
 qG4Mp3vQVBViBdxuy5sQMQ==

<SEC-DOCUMENT>0001181431-03-027716.txt : 20031028
<SEC-HEADER>0001181431-03-027716.hdr.sgml : 20031028
<ACCEPTANCE-DATETIME>20031028120224
ACCESSION NUMBER:		0001181431-03-027716
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20031024
FILED AS OF DATE:		20031028

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			JAFFE JONATHAN M
		CENTRAL INDEX KEY:			0001245946

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-11749
		FILM NUMBER:		03960105

	BUSINESS ADDRESS:	
		STREET 1:		700 NW 107TH AVENUE
		CITY:			MIAMI
		STATE:			FL
		ZIP:			33172

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LENNAR CORP /NEW/
		CENTRAL INDEX KEY:			0000920760
		STANDARD INDUSTRIAL CLASSIFICATION:	GEN BUILDING CONTRACTORS - RESIDENTIAL BUILDINGS [1520]
		IRS NUMBER:				954337490
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1130

	BUSINESS ADDRESS:	
		STREET 1:		700 NW 107TH AVENUE
		STREET 2:		SUITE 400
		CITY:			MIAMI
		STATE:			FL
		ZIP:			33172
		BUSINESS PHONE:		3055594000

	MAIL ADDRESS:	
		STREET 1:		700 NW 107TH AVENUE
		STREET 2:		SUITE 400
		CITY:			MIAMI
		STATE:			FL
		ZIP:			33172

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PACIFIC GREYSTONE CORP /DE/
		DATE OF NAME CHANGE:	19940323
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>rrd20945.xml
<DESCRIPTION>FORM 4
<TEXT>
<XML>
<?xml version="1.0"?><ownershipDocument>
    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType><periodOfReport>2003-10-24</periodOfReport><notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0000920760</issuerCik>
        <issuerName>LENNAR CORP /NEW/</issuerName>
        <issuerTradingSymbol>LEN, LEN.B</issuerTradingSymbol></issuer><reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001245946</rptOwnerCik>
            <rptOwnerName>JAFFE JONATHAN M</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>700 NORTHWEST 107TH AVENUE</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>MIAMI</rptOwnerCity>
            <rptOwnerState>FL</rptOwnerState>
            <rptOwnerZipCode>33172</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
<isDirector>1</isDirector><isOfficer>1</isOfficer><isTenPercentOwner>0</isTenPercentOwner><isOther>0</isOther><officerTitle>Vice President</officerTitle></reportingOwnerRelationship></reportingOwner><nonDerivativeTable><nonDerivativeTransaction><securityTitle><value>Class A Common Stock</value></securityTitle><transactionDate><value>2003-10-24</value></transactionDate><transactionCoding><transactionFormType>4</transactionFormType><transactionCode>G</transactionCode><equitySwapInvolved>0</equitySwapInvolved></transactionCoding><transactionAmounts><transactionShares><value>10110</value></transactionShares><transactionPricePerShare><value>0.00</value></transactionPricePerShare><transactionAcquiredDisposedCode><value>D</value></transactionAcquiredDisposedCode></transactionAmounts><postTransactionAmounts><sharesOwnedFollowingTransaction><value>95455</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value><footnoteId id="F1"/></directOrIndirectO
wnership></ownershipNature></nonDerivativeTransaction><nonDerivativeHolding><securityTitle><value>Class B Common Stock</value></securityTitle><postTransactionAmounts><sharesOwnedFollowingTransaction><value>15359</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value><footnoteId id="F2"/></directOrIndirectOwnership></ownershipNature></nonDerivativeHolding><nonDerivativeHolding><securityTitle><value>Class A Common Stock</value></securityTitle><postTransactionAmounts><sharesOwnedFollowingTransaction><value>1118</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>I</value></directOrIndirectOwnership><natureOfOwnership><value>By ESOP Trust</value></natureOfOwnership></ownershipNature></nonDerivativeHolding><nonDerivativeHolding><securityTitle><value>Class B Common Stock</value></securityTitle><postTransactionAmounts><sharesOwnedFollowingTransaction><value>111</value></sharesOwned
FollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>I</value></directOrIndirectOwnership><natureOfOwnership><value>By ESOP Trust</value></natureOfOwnership></ownershipNature></nonDerivativeHolding></nonDerivativeTable><derivativeTable><derivativeHolding><securityTitle><value>Option</value></securityTitle><conversionOrExercisePrice><value>0.00</value><footnoteId id="F4"/></conversionOrExercisePrice><exerciseDate><value>1988-08-08</value><footnoteId id="F4"/></exerciseDate><expirationDate><value>1988-08-08</value><footnoteId id="F4"/></expirationDate><underlyingSecurity><underlyingSecurityTitle><value>Class A Common Stock</value></underlyingSecurityTitle><underlyingSecurityShares><value>168750</value></underlyingSecurityShares></underlyingSecurity><postTransactionAmounts><sharesOwnedFollowingTransaction><value>168750</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnersh
ip></ownershipNature></derivativeHolding><derivativeHolding><securityTitle><value>Option</value></securityTitle><conversionOrExercisePrice><value>0.00</value><footnoteId id="F4"/></conversionOrExercisePrice><exerciseDate><value>1988-08-08</value><footnoteId id="F4"/></exerciseDate><expirationDate><value>1988-08-08</value><footnoteId id="F4"/></expirationDate><underlyingSecurity><underlyingSecurityTitle><value>Class B Common Stock</value></underlyingSecurityTitle><underlyingSecurityShares><value>16875</value></underlyingSecurityShares></underlyingSecurity><postTransactionAmounts><sharesOwnedFollowingTransaction><value>16875</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></derivativeHolding><derivativeHolding><securityTitle><value>Class A Common Stock</value><footnoteId id="F3"/></securityTitle><conversionOrExercisePrice><value>0.00</value></conversionOrExercisePrice><exerciseDate><value
>1988-08-08</value><footnoteId id="F4"/></exerciseDate><expirationDate><value>1988-08-08</value><footnoteId id="F4"/></expirationDate><underlyingSecurity><underlyingSecurityTitle><value>Class A Common Stock</value></underlyingSecurityTitle><underlyingSecurityShares><value>40000</value></underlyingSecurityShares></underlyingSecurity><postTransactionAmounts><sharesOwnedFollowingTransaction><value>40000</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></derivativeHolding><derivativeHolding><securityTitle><value>Class B Common Stock</value><footnoteId id="F3"/></securityTitle><conversionOrExercisePrice><value>0.00</value></conversionOrExercisePrice><exerciseDate><value>1988-08-08</value><footnoteId id="F4"/></exerciseDate><expirationDate><value>1988-08-08</value><footnoteId id="F4"/></expirationDate><underlyingSecurity><underlyingSecurityTitle><value>Class B Common Stock</value></underlyingS
ecurityTitle><underlyingSecurityShares><value>4000</value></underlyingSecurityShares></underlyingSecurity><postTransactionAmounts><sharesOwnedFollowingTransaction><value>4000</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></derivativeHolding></derivativeTable><footnotes><footnote id="F1">Includes 60,000 shares held pursuant to a Restricted Stock Plan, subject to forfeiture, with shares vesting at the rate of 30,000 on each of 6/22/04 and 6/22/05.</footnote><footnote id="F2">Includes 6,000 shares held pursuant to a Restricted Stock Plan, subject to forfeiture, with shares vesting at the rate of 3,000 on each of 6/22/04 and 6/22/05.</footnote><footnote id="F3">Contractual right to receive shares in the future.</footnote><footnote id="F4">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 repor
ted transactions or other holdings not affected by the reported transactions.</footnote></footnotes><ownerSignature><signatureName>Benjamin P. Butterfield as Attorney-In-Fact for Jonathan M. Jaffe</signatureName><signatureDate>2003-10-28</signatureDate></ownerSignature></ownershipDocument>



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</SEC-DOCUMENT>
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