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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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 & COO (Last) (First) (Middle) 700 NORTHWEST 107TH AVENUE 3. Date of Earliest Transaction (Month/Day/Year) 01/12/2006 (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 01/12/2006   M   12,142 A $ 8.235 112,142 D   Class B Common Stock 01/12/2006   M   1,214 A $ 0 (6) 1,214 D   Class A Common Stock               102,843 I See (3) Class B Common Stock               25,874 I See (4)

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 (1)

$ 0

08/08/1988(2)

08/08/1988(2)

Class A Common Stock

120,000

120,000

D

Class B Common Stock (1)

$ 0

08/08/1988(2)

08/08/1988(2)

Class B Common Stock

12,000

12,000

D

Option (Right to Buy)

$ 8.235

01/12/2006

M

12,142

11/03/1998(5)

11/03/2007

Class A Common Stock

12,142

$ 0

27,858

D

Option (Right to Buy)

$ 0 (6)

01/12/2006

M

1,214

11/03/1998(5)

11/03/2007

Class B Common Stock

1,214

$ 0

2,786

D

Option (Right to Buy)

$ 0

08/08/1988(2)

08/08/1988(2)

Class A Common Stock

587,856

587,856

D

Option (Right to Buy)

$ 0

08/08/1988(2)

08/08/1988(2)

Class B Common Stock

23,786

23,786

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 & COO

Signatures

Michael Francis as Attorney-In-Fact for Jonathan M. Jaffe		01/17/2006
**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)	Contractual right to receive shares in the future.
(2)	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.
(3)	85,582 shares are held through a trust, 15,000 shares are held through a financial intermediary, 2,236 shares are held through an ESOP trust and 25 shares are owned by Mr. Jaffe's son of which Mr. Jaffe disclaims beneficial ownership.
(4)	25,652 shares are held through a trust and 222 shares are held through an ESOP trust.
(5)	These stock options vest in nine annual installments. 10% of the stock options granted become exercisable on the first eight anniversaries of the grant date and the remaining 20% become exercisable on the ninth anniversary of the grant date.
(6)	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.
Remarks: Confirming statement attached as Exhibit 24.

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