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<ACCESSION-NUMBER>0000891092-04-004608
<TYPE>8-K
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<PERIOD>20040929
<ITEMS>5.02
<ITEMS>9.01
<FILING-DATE>20040930
<DATE-OF-FILING-DATE-CHANGE>20040930
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<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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<FILM-NUMBER>041055092
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<STREET1>201 ALHAMBRA CIRCLE
<CITY>CORAL GABLES
<STATE>FL
<ZIP>33134
<PHONE>3054427000
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<STREET1>201 ALHAMBRA CIRCLE
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<STATE>FL
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<FORMER-CONFORMED-NAME>GAC CORP /DE/
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<FILENAME>e19170_8k.txt
<DESCRIPTION>FORM 8-K
<TEXT>
                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              Washington, DC 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) September 29, 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)          (IRS 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)

                                 Not Applicable
--------------------------------------------------------------------------------
          (Former Name or Former Address, if Changed Since Last Report)

      Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):

      |_| Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)

      |_| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17
CFR 240.14a-12)

      |_| Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))

      |_| Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))

<PAGE>

Item 5.02. Departure of Directors or Principal Officers; Election of Directors;
Appointment of Principal Officers.

      (d) On September 29, 2004, the Board of Directors of Avatar Holdings Inc.
voted to increase the size of the Board to eleven members, and Joshua Nash was
elected as a director and as Chairman of the Board. Joshua Nash succeeds Jack
Nash as Chairman of the Board; Jack Nash will remain a director of Avatar. As
Chairman of the Board, Joshua Nash will also serve as a member of the Executive
Committee of the Board.

      As Chairman of the Board, Joshua Nash will not receive any compensation,
aside from director fees. Jack Nash, Joshua Nash's father, received $100,000 per
annum for service as Avatar's Chairman of the Board.

      Avatar issued a press release on September 30, 2004, regarding the
election of Mr. Joshua Nash as a new director. A copy of the press release is
attached hereto as Exhibit 99.1

Item 9.01. Financial Statements and Exhibits

(c)   Exhibits.

99.1  Press Release dated September 30, 2004.

<PAGE>

                                    SIGNATURE

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

                                            AVATAR HOLDINGS INC.

Date: September 30, 2004                    By: /s/ Juanita I. Kerrigan
                                                --------------------------------
                                            Name:   Juanita I. Kerrigan
                                            Title:  Vice President and Secretary


                                       3

<PAGE>

                                  EXHIBIT INDEX

Exhibit No.                     Description

99.1              Press Release dated September 30, 2004.


                                       4


</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>e19170ex99-1.txt
<DESCRIPTION>PRESS RELEASE
<TEXT>
                                                                    Exhibit 99.1

                Joshua Nash Joins Board of Avatar Holdings Inc.

    CORAL GABLES, Fla., Sept. 30 /PRNewswire-FirstCall/ -- Avatar Holdings
Inc. (Nasdaq:  AVTR) today announced that Joshua Nash has joined its Board of
Directors and will serve as its Chairman of the Board and member of the
Executive Committee.

    Mr. Nash, through a private company, is a managing member of ODAV LLC,
Avatar's largest stockholder.  Mr. Nash, through a private company, is also a
general partner of Ulysses Partners, and has been responsible for the
direction and oversight of its diversified portfolio of public market
investments since 1997.  He previously performed the same role for Odyssey
Partners from 1991 through 1996.

    Mr. Nash succeeds his father, Jack Nash, as Chairman of the Board of
Avatar.  Jack Nash remains a director of Avatar.


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


    Certain statements discussed herein constitute "forward-looking
statements" within the meaning of the Private Securities Litigation Reform Act
of 1995.  Such forward-looking statements involve known and unknown risks,
uncertainties and other important factors that could cause the actual results,
performance or achievements of results to differ materially from any future
results, performance or achievements expressed or implied by such forward-
looking statements.  Such risks, uncertainties and other important factors
include, among others: the successful implementation of Avatar's business
strategy; shifts in demographic trends affecting demand for active adult
communities and other real estate development; the level of immigration and
in-migration into areas in which Avatar conducts real estate activities;
international (in particular Latin America), national and local economic
conditions and events, including employment levels, interest rates, consumer
confidence, the availability of mortgage financing and demand for new and
existing housing; access to future financing; geopolitical risks; competition;
changes in, or the failure or inability to comply with, government
regulations; adverse weather conditions and natural disasters; and other
factors as are described in greater detail in Avatar's filings with the
Securities and Exchange Commission, including its Annual Report on Form 10-K
for the fiscal year ended December 31, 2003.



SOURCE  Avatar Holdings Inc.
    -0-                             09/30/2004
    /CONTACT:  Juanita I. Kerrigan, Avatar Holdings Inc., +1-305-442-7000/
    /Web site:  http://www.avatarhomes.com /
    (AVTR)

CO:  Avatar Holdings Inc.; ODAV LLC
ST:  Florida
IN:  CST RLT
SU:  PER

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