Ownership Submission
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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(Print or Type Responses)
1. Name and Address of Reporting Person *
MCCAIN DAVID B
   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
(Last)
(First)
(Middle)
700 NORTHWEST 107TH AVENUE		 3. Date of Earliest Transaction (Month/Day/Year)
06/22/2005
(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 06/22/2005   F   4,780 D $ 63.315 0 D  
Class A Common Stock 06/22/2005   A   30,000 (1) A $ 0 0 D  
Class A Common Stock 06/23/2005   M   4,200 A $ 18.32 0 D  
Class B Common Stock 06/23/2005   M   419 A $ 0 (2) 0 D  
Class A Common Stock 06/23/2005   M   4,000 A $ 13.61 0 D  
Class B Common Stock 06/23/2005   M   400 A $ 0 (2) 0 D  
Class A Common Stock 06/23/2005   S   15,420 D $ 63.4835 30,000 D  
Class B Common Stock 06/23/2005   S   1,200 D $ 58.55 6,399 D  

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 (3) $ 0             08/08/1988(4) 08/08/1988(4) Class A Common Stock 28,000   28,000 D  
Class B Common Stock (3) $ 0             08/08/1988(4) 08/08/1988(4) Class B Common Stock 2,800   2,800 D  
Option (Right to Buy) $ 18.32 06/23/2005   M     4,200 03/06/2004 03/06/2011 Class A Common Stock 4,200 $ 0 0 D  
Option (Right to Buy) $ 0 (2) 06/23/2005   M     419 03/06/2004 03/06/2011 Class B Common Stock 420 $ 0 0 D  
Option (Right to Buy) $ 13.61 06/23/2005   M     4,000 06/01/2005 06/01/2008 Class A Common Stock 4,000 $ 0 0 D  
Option (Right to Buy) $ 0 (2) 06/23/2005   M     400 06/01/2005 06/01/2008 Class B Common Stock 400 $ 0 0 D  
Option (Right to Buy) $ 0 (4)             08/08/1988(4) 08/08/1988(4) Class A Common Stock 132,200   132,200 D  
Option (Right to Buy) $ 0 (4)             08/08/1988(4) 08/08/1988(4) Class B Common Stock 5,220   5,220 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
MCCAIN DAVID B
700 NORTHWEST 107TH AVENUE
MIAMI, FL 33172		       Vice President  

Signatures

 David B. McCain   06/24/2005
**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) Shares granted on 6/22/05 under the Issuer's 2003 Stock Option and Restricted Stock Plan, subject to forfeiture. 10% of the restricted stock is exercisable on the first anniversary of the grant date and the remaining 90% of the restricted stock is exercisable in three equal annual installments beginning on the second anniversary of the grant date.
(2) 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.
(3) Contractual right to receive shares in the future.
(4) 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.

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