<SUBMISSION>
<ACCESSION-NUMBER>0001182489-06-000228
<TYPE>3
<PUBLIC-DOCUMENT-COUNT>1
<PERIOD>20060301
<FILING-DATE>20060308
<DATE-OF-FILING-DATE-CHANGE>20060308
<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>
<REPORTING-OWNER>
<OWNER-DATA>
<CONFORMED-NAME>BECKWITT RICHARD
<CIK>0001197193
</OWNER-DATA>
<FILING-VALUES>
<FORM-TYPE>3
<ACT>34
<FILE-NUMBER>001-11749
<FILM-NUMBER>06673301
</FILING-VALUES>
<BUSINESS-ADDRESS>
<STREET1>D.R. HORTON INC
<STREET2>1901 ASCENSION BLVD.
<CITY>ARLINGTON
<STATE>TX
<ZIP>76006
</BUSINESS-ADDRESS>
</REPORTING-OWNER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>edgar.xml
<DESCRIPTION>FORM 3 -
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2006-03-01</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0000920760</issuerCik>
        <issuerName>LENNAR CORP /NEW/</issuerName>
        <issuerTradingSymbol>LEN,LEN.B</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001197193</rptOwnerCik>
            <rptOwnerName>BECKWITT RICHARD</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>1707 MARKETPLACE BLVD</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>IRVING</rptOwnerCity>
            <rptOwnerState>TX</rptOwnerState>
            <rptOwnerZipCode>75063</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Executive Vice President</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Class A Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>100000</value>
                    <footnoteId id="F1"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeHolding>
            <securityTitle>
                <value>Stock Option (Right to Buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>59.29</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2007-03-01</value>
                <footnoteId id="F2"/>
            </exerciseDate>
            <expirationDate>
                <value>2011-03-01</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Class A Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>50000</value>
                    <footnoteId id="F2"/>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">These shares of restricted stock were granted to the Reporting Person on March 1, 2006 under the Issuer's 2003 Stock Option and Restricted Stock Plan (the &quot;2003 Plan&quot;), and are subject to forfeiture. 10% of the restricted stock vests, and is no longer subject to forfeiture, on the first anniversary of the grant date and 30% of the restricted stock vests on each of the next three anniversaries of the grant date.</footnote>
        <footnote id="F2">These stock options were granted to the Reporting Person on March 1, 2006 under the 2003 Plan and become exercisable in four annual installments. 10% of the stock options become exercisable on the first anniversary of the grant date and 30% of the stock options become exercisable on each of the next three anniversaries of the grant date.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Michael Francis as Attorney-In-Fact for Richard Beckwitt</signatureName>
        <signatureDate>2006-03-08</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SUBMISSION>
