<SUBMISSION>
<ACCESSION-NUMBER>0001181431-04-004262
<TYPE>4
<PUBLIC-DOCUMENT-COUNT>1
<PERIOD>20040121
<FILING-DATE>20040123
<REPORTING-OWNER>
<OWNER-DATA>
<CONFORMED-NAME>STRUDLER ROBERT J
<CIK>0001245942
</OWNER-DATA>
<FILING-VALUES>
<FORM-TYPE>4
<ACT>34
<FILE-NUMBER>001-11749
<FILM-NUMBER>04541639
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>10707 CLAY ROAD
<CITY>HOUSTON
<STATE>TX
<ZIP>77041
</BUSINESS-ADDRESS>
</REPORTING-OWNER>
<ISSUER>
<COMPANY-DATA>
<CONFORMED-NAME>LENNAR CORP /NEW/
<CIK>0000920760
<ASSIGNED-SIC>1520
<IRS-NUMBER>954337490
<STATE-OF-INCORPORATION>DE
<FISCAL-YEAR-END>1130
</COMPANY-DATA>
<BUSINESS-ADDRESS>
<STREET1>700 NW 107TH AVENUE
<STREET2>SUITE 400
<CITY>MIAMI
<STATE>FL
<ZIP>33172
<PHONE>3055594000
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>700 NW 107TH AVENUE
<STREET2>SUITE 400
<CITY>MIAMI
<STATE>FL
<ZIP>33172
</MAIL-ADDRESS>
<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>PACIFIC GREYSTONE CORP /DE/
<DATE-CHANGED>19940323
</FORMER-COMPANY>
</ISSUER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>rrd29976.xml
<DESCRIPTION>FORM 4
<TEXT>
<XML>
<?xml version="1.0"?><ownershipDocument>
    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType><periodOfReport>2004-01-21</periodOfReport><notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0000920760</issuerCik>
        <issuerName>LENNAR CORP /NEW/</issuerName>
        <issuerTradingSymbol>LEN, LEN.B</issuerTradingSymbol></issuer><reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001245942</rptOwnerCik>
            <rptOwnerName>STRUDLER ROBERT J</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>10707 CLAY ROAD</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>HOUSTON</rptOwnerCity>
            <rptOwnerState>TX</rptOwnerState>
            <rptOwnerZipCode>77041</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
<isDirector>1</isDirector><isOfficer>1</isOfficer><isTenPercentOwner>0</isTenPercentOwner><isOther>0</isOther><officerTitle>Vice Chairman &amp; C.O.O.</officerTitle></reportingOwnerRelationship></reportingOwner><nonDerivativeTable><nonDerivativeTransaction><securityTitle><value>Class A Common Stock</value></securityTitle><transactionDate><value>2004-01-21</value></transactionDate><transactionCoding><transactionFormType>4</transactionFormType><transactionCode>J</transactionCode><equitySwapInvolved>0</equitySwapInvolved><footnoteId id="F5"/></transactionCoding><transactionAmounts><transactionShares><value>50000</value></transactionShares><transactionPricePerShare><value>0</value></transactionPricePerShare><transactionAcquiredDisposedCode><value>A</value></transactionAcquiredDisposedCode></transactionAmounts><postTransactionAmounts><sharesOwnedFollowingTransaction><value>100000</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value><footnoteId id="F1"/></directOrIndirectOwnership></ownershipNature></nonDerivativeTransaction><nonDerivativeTransaction><securityTitle><value>Class B Common Stock</value></securityTitle><transactionDate><value>2004-01-21</value></transactionDate><transactionCoding><transactionFormType>4</transactionFormType><transactionCode>J</transactionCode><equitySwapInvolved>0</equitySwapInvolved><footnoteId id="F5"/></transactionCoding><transactionAmounts><transactionShares><value>3000</value></transactionShares><transactionPricePerShare><value>0</value></transactionPricePerShare><transactionAcquiredDisposedCode><value>A</value></transactionAcquiredDisposedCode></transactionAmounts><postTransactionAmounts><sharesOwnedFollowingTransaction><value>6000</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value><footnoteId id="F2"/></directOrIndirectOwnership></ownershipNature></nonDerivativeTransaction><nonDerivativeTransaction><securityTitle><value>Class A Common Stock</value></securityTitle><transactionDate><value>2004-01-21</value></transactionDate><transactionCoding><transactionFormType>4</transactionFormType><transactionCode>J</transactionCode><equitySwapInvolved>0</equitySwapInvolved><footnoteId id="F5"/></transactionCoding><transactionAmounts><transactionShares><value>149</value></transactionShares><transactionPricePerShare><value>0</value></transactionPricePerShare><transactionAcquiredDisposedCode><value>A</value></transactionAcquiredDisposedCode></transactionAmounts><postTransactionAmounts><sharesOwnedFollowingTransaction><value>298</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership><natureOfOwnership><value>Held by Trust</value></natureOfOwnership></ownershipNature></nonDerivativeTransaction><nonDerivativeTransaction><securityTitle><value>Class B Common Stock</value></securityTitle><transactionDate><value>2004-01-21</value></transactionDate><transactionCoding><transactionFormType>4</transactionFormType><transactionCode>J</transactionCode><equitySwapInvolved>0</equitySwapInvolved><footnoteId id="F5"/></transactionCoding><transactionAmounts><transactionShares><value>14</value></transactionShares><transactionPricePerShare><value>0</value></transactionPricePerShare><transactionAcquiredDisposedCode><value>A</value></transactionAcquiredDisposedCode></transactionAmounts><postTransactionAmounts><sharesOwnedFollowingTransaction><value>28</value></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership><natureOfOwnership><value>Held by Trust</value></natureOfOwnership></ownershipNature></nonDerivativeTransaction></nonDerivativeTable><derivativeTable><derivativeHolding><securityTitle><value>Class A Common Stock</value><footnoteId id="F3"/></securityTitle><conversionOrExercisePrice><value>0</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>40000</value><footnoteId id="F5"/></underlyingSecurityShares></underlyingSecurity><postTransactionAmounts><sharesOwnedFollowingTransaction><value>40000</value><footnoteId id="F5"/></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</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>4000</value><footnoteId id="F5"/></underlyingSecurityShares></underlyingSecurity><postTransactionAmounts><sharesOwnedFollowingTransaction><value>4000</value><footnoteId id="F5"/></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></derivativeHolding><derivativeHolding><securityTitle><value>Option</value></securityTitle><conversionOrExercisePrice><value>0</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>340000</value><footnoteId id="F5"/></underlyingSecurityShares></underlyingSecurity><postTransactionAmounts><sharesOwnedFollowingTransaction><value>340000</value><footnoteId id="F5"/></sharesOwnedFollowingTransaction></postTransactionAmounts><ownershipNature><directOrIndirectOwnership><value>D</value></directOrIndirectOwnership></ownershipNature></derivativeHolding><derivativeHolding><securityTitle><value>Option</value></securityTitle><conversionOrExercisePrice><value>0</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>14000</value><footnoteId id="F5"/></underlyingSecurityShares></underlyingSecurity><postTransactionAmounts><sharesOwnedFollowingTransaction><value>14000</value><footnoteId id="F5"/></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">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 reported transactions or other holdings not affected by the reported transactions.</footnote><footnote id="F5">Adjusted for 2-for-1 stock split effective January 21, 2004.</footnote></footnotes><ownerSignature><signatureName>Benjamin P. Butterfield as Attorney-In-Fact for Robert J. Strudler</signatureName><signatureDate>2004-01-23</signatureDate></ownerSignature></ownershipDocument>



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</TEXT>
</DOCUMENT>
</SUBMISSION>
