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 *
AMES MARSHALL H
   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
(Last)
(First)
(Middle)
700 NORTHWEST 107TH AVENUE		 3. Date of Earliest Transaction (Month/Day/Year)
02/17/2005
(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 02/17/2005   M   20,000 A $ 8.235 0 D  
Class A Common Stock 02/17/2005   M   14,000 A $ 8.25 0 D  
Class A Common Stock 02/17/2005   M   9,800 A $ 18.32 0 D  
Class A Common Stock 02/17/2005   M   9,800 A $ 26.32 0 D  
Class A Common Stock 02/17/2005   M   24,000 A $ 27.845 0 D  
Class A Common Stock 02/17/2005   M   2,000 A $ 46.42 0 D  
Class A Common Stock 02/17/2005   S   79,600 D $ 58.158 111,820 D (1)  
Class B Common Stock 02/17/2005   M   7,758 A $ 0 (2) 18,940 D (3)  
Class A Common Stock               712 I By IRA Trust
Class B Common Stock               70 I By IRA Trust
Class A Common Stock               9,512 I By ESOP Trust
Class B Common Stock               950 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 (4) $ 0             08/08/1988(5) 08/08/1988(5) Class A Common Stock 16,000   16,000 D  
Class B Common Stock (4) $ 0             08/08/1988(5) 08/08/1988(5) Class B Common Stock 1,600   1,600 D  
Option (Right to Buy) $ 8.235 02/17/2005   M     20,000 11/03/2001(6) 11/03/2007 Class A Common Stock 20,000 $ 0 0 D  
Option (Right to Buy) $ 0 (2) 02/17/2005   M     2,000 11/03/2001(6) 11/03/2007 Class B Common Stock 2,000 $ 0 0 D  
Option (Right to Buy) $ 8.25 02/17/2005   M     14,000 02/07/2001(7) 02/07/2010 Class A Common Stock 14,000 $ 0 0 D  
Option (Right to Buy) $ 0 (2) 02/17/2005   M     1,399 02/07/2001(7) 02/07/2010 Class B Common Stock 1,399 $ 0 0 D  
Option (Right to Buy) $ 18.32 02/17/2005   M     9,800 03/06/2002(7) 03/06/2011 Class A Common Stock 9,800 $ 0 0 D  
Option (Right to Buy) $ 0 (2) 02/17/2005   M     979 03/06/2002(7) 03/06/2011 Class B Common Stock 979 $ 0 0 D  
Option (Right to Buy) $ 26.32 02/17/2005   M     9,800 01/25/2003(7) 01/25/2012 Class A Common Stock 9,800 $ 0 0 D  
Option (Right to Buy) $ 0 (2) 02/17/2005   M     980 01/25/2003(7) 01/25/2012 Class B Common Stock 980 $ 0 0 D  
Option (Right to Buy) $ 27.845 02/17/2005   M     24,000 01/23/2004(7) 01/23/2008 Class A Common Stock 24,000 $ 0 0 D  
Option (Right to Buy) $ 0 (2) 02/17/2005   M     2,400 01/23/2004(7) 01/23/2008 Class B Common Stock 2,400 $ 0 0 D  
Option (Right to Buy) $ 46.42 02/17/2005   M     2,000 12/17/2004(7) 12/17/2008 Class A Common Stock 2,000 $ 0 0 D  
Option (Right to Buy) $ 0 (5)             08/08/1988(5) 08/08/1988(5) Class A Common Stock 87,400   87,400 D  
Option (Right to Buy) $ 0 (5)             08/08/1988(5) 08/08/1988(5) Class B Common Stock 5,942   5,942 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
AMES MARSHALL H
700 NORTHWEST 107TH AVENUE
MIAMI, FL 33172		       Vice President  

Signatures

 Marshall H. Ames   02/22/2005
**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 12,000 shares held pursuant to a Restricted Stock Plan, subject to forfeiture, vesting on 6/22/05.
(2) The Class B Common Stock was issued as a result of anti-dilution provisions with regard to exercises of options that originally related to Class A Common Stock.
(3) Includes 1,200 shares held pursuant to a Restricted Stock Plan, subject to forfeiture, vesting on 6/22/05.
(4) Contractual right to receive shares in the future.
(5) 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.
(6) These stock options vest in nine annual installments. 10% of the stock options granted become exercisable on each of the first eight anniversaries of the grant date and the remaining 20% become exercisable on the ninth anniversary of the grant date.
(7) These stock options vest in four annual installments. 10% of the stock options granted become exercisable on the first anniversary of the grant date and 30% of the stock options granted become exercisable on each of the next three anniversaries of the grant date.

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