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<FILER>
<COMPANY-DATA>
<CONFORMED-NAME>AVATAR HOLDINGS INC
<CIK>0000039677
<ASSIGNED-SIC>1531
<IRS-NUMBER>231739078
<STATE-OF-INCORPORATION>DE
<FISCAL-YEAR-END>1231
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<BUSINESS-ADDRESS>
<STREET1>201 ALHAMBRA CIRCLE
<CITY>CORAL GABLES
<STATE>FL
<ZIP>33134
<PHONE>3054427000
</BUSINESS-ADDRESS>
<MAIL-ADDRESS>
<STREET1>201 ALHAMBRA CIRCLE
<CITY>CORAL GABLES
<STATE>FL
<ZIP>33134
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<FORMER-CONFORMED-NAME>GAC CORP /DE/
<DATE-CHANGED>19801023
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<FORMER-COMPANY>
<FORMER-CONFORMED-NAME>GENERAL ACCEPTANCE CORP
<DATE-CHANGED>19710208
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<FILENAME>e18025_8k.txt
<DESCRIPTION>FORM 8K
<TEXT>

================================================================================

                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    --------

                                    FORM 8-K
                             CURRENT REPORT PURSUANT
                          TO SECTION 13 OR 15(d) OF THE
                         SECURITIES EXCHANGE ACT OF 1934

                                    ---------

         Date of Report (Date of Earliest Event Reported): May 25, 2004

                              AVATAR HOLDINGS INC.
             ------------------------------------------------------
             (Exact Name of Registrant as Specified in its Charter)

                                    Delaware
                 (State or Other Jurisdiction of Incorporation)
                 ----------------------------------------------

          0-7616                                         23-1739078
------------------------                    ------------------------------------
(Commission File Number)                    (I.R.S. Employer Identification No.)

         201 Alhambra Circle
        Coral Gables, Florida                              33134
----------------------------------------                 ----------
(Address of Principal Executive Offices)                 (Zip Code)

                                 (305) 442-7000
              ----------------------------------------------------
              (Registrant's Telephone Number, Including Area Code)

          -------------------------------------------------------------
          (Former Name or Former Address, if Changed Since Last Report)

================================================================================


<PAGE>

Item 9. Regulation FD Disclosure

      The  information  set forth in the press release issued by Avatar Holdings
Inc.  reporting on Annual Meeting of  Stockholders  held May 25, 2004,  attached
hereto as Exhibit 99.1, is incorporated herein by reference.


<PAGE>

                                    SIGNATURE

      Pursuant to the  requirements of the Securities  Exchange Act of 1934, the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned hereunto duly authorized.

                                         AVATAR HOLDINGS INC.

                                         By: /s/ Juanita I. Kerrigan
                                             -----------------------------------
                                             Name: Juanita I. Kerrigan
                                             Title: Vice President and Secretary

Date:  May 25, 2004


</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>e18025ex99_1.txt
<DESCRIPTION>PRESS RELEASE
<TEXT>

                                                                    Exhibit 99.1

            Avatar Holdings Inc. Annual Meeting of Stockholders Held
                              Today in Coral Gables

    CORAL GABLES, Fla., May 25 /PRNewswire-FirstCall/ -- Stockholders at
today's Annual Meeting of Avatar Holdings Inc. (Nasdaq: AVTR) voted to elect
the ten members of the Company's Board of Directors and to approve the
appointment of accountants Ernst & Young LLP to act as auditors for the
Company for the year ending December 31, 2004.  The meeting was held at the
Hyatt Regency Coral Gables, in Coral Gables, Florida.
    Re-elected to the Board were Jack Nash, Chairman of the Board, Avatar
Holdings Inc., and Managing Member of ODAV LLC; Gerald D. Kelfer, Vice
Chairman of the Board, Chairman of the Executive Committee, President and
Chief Executive Officer, Avatar Holdings Inc.; Eduardo A. Brea, Partner and
Managing Director of Sterling Capital Management LLC; Milton H. Dresner,
Founding Partner, The Highland Companies; Martin Meyerson, President Emeritus
and Professor of Policy and Planning, University of Pennsylvania; Kenneth T.
Rosen, Professor of Business Administration and Chairman of the Fisher Center
for Real Estate and Urban Economics, University of California at Berkeley;
Fred Stanton Smith, Vice Chairman of the Board, The Keyes Company; William G.
Spears, Principal, Spears, Grisanti & Brown LLC; and Beth A. Stewart, Chief
Executive Officer and Co-Chairman of Storetrax.com and President of Stewart
Real Estate Capital. Newly elected to the Board was Joel M. Simon, Partner and
Principal, Crossroads, LLC.

    Avatar Holdings Inc. is primarily engaged in real estate operations in
Florida and Arizona.  Its principal real estate operations are conducted at
Poinciana, Bellalago and Solivita in central Florida near Orlando; Harbor
Islands on Florida's east coast; and at Rio Rico, south of Tucson, Arizona.
Avatar's common shares trade on The Nasdaq Stock Market under the symbol AVTR.
The 7% Notes trade on The Nasdaq SmallCap Market under the symbol AVTRG.

SOURCE  Avatar Holdings Inc.
    -0-                             05/25/2004
    /CONTACT:  Juanita I. Kerrigan, Avatar Holdings Inc., +1-305-442-7000/
    /Web site:  http://www.avatarhomes.com /
    (AVTR AVTRG)

CO:  Avatar Holdings Inc.; Ernst & Young LLP
ST:  Florida
IN:  CST RLT
SU:  ACC


</TEXT>
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