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 *
GROSS BRUCE E
   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/CFO
(Last)
(First)
(Middle)
700 NW 107TH AVENUE, SUITE 400		 3. Date of Earliest Transaction (Month/Day/Year)
02/14/2011
(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 02/14/2011   M   11,498 A $ 18.32 452,474 D  
Class A Common Stock 02/14/2011   S   11,498 D $ 20.5301 440,976 D  
Class A Common Stock               1,737 (1) (2) I By Reporting Person as UTMA Fl Custodian for minor child
Class A Common Stock               1,737 (3) I By Son
Class B Common Stock 02/14/2011   M   1,149 A $ 0 (4) 50,582 D  
Class B Common Stock               10,000 (2) I By Reporting Person as UTMA Fl Custodian for minor child
Class B Common Stock               10,000 (5) I By Son

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
Stock Option (Right to Buy) $ 18.32 02/14/2011   M     11,498 03/06/2005 03/06/2011 Class A Common Stock 11,498 $ 0 0 D  
Stock Option (Right to Buy) $ 26.32             01/25/2006 01/25/2012 Class A Common Stock 18,000   18,000 D  
Stock Option (Right to Buy) $ 13.54             07/23/2009(6) 07/23/2013 Class A Common Stock 250,000   250,000 D  
Stock Option (Right to Acquire) $ 0 02/14/2011   M     1,149 03/06/2005 03/06/2011 Class B Common Stock 1,149 $ 0 0 D  
Stock Option (Right to Acquire) $ 0             01/25/2006 01/25/2012 Class B Common Stock 1,800 (7)   1,800 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
GROSS BRUCE E
700 NW 107TH AVENUE
SUITE 400
MIAMI, FL 33172		       Vice President/CFO  

Signatures

 Bruce Gross   02/16/2011
**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) 5,211 shares of Class A Common have previously been reported as indirectly owned "By Trust". The shares have now been distributed. The Reporting Person no longer has a reportable beneficial ownership interest in 1,737 shares of Class A Common Stock owned by his daughter and included in the Reporting Person's previous ownership reports under the indirect title of "By Trust".
(2) Shares are held of record by the Reporting Person as custodian for a minor child under the Uniform Transfer to Minors Act (FL). The Reporting Person disclaims beneficial ownership of these shares and this report shall not be deemed an admission that the Reporting Person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose.
(3) Shares were previously reported under the indirect title of "By Trust". The reporting person disclaims beneficial ownership of these securities, and this report shall not be deemed an admission that the reporting person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.
(4) The Class B Common Stock was issued as a result of anti-dilution provisions with regard to certain exercises of options that relate to Class A Common Stock.
(5) Shares were previously reported under the Uniform Transfer to Minors Act(FL).
(6) These stock options become exercisable in installments of 25% on each of the first four anniversaries of the grant date.
(7) Represents shares of Class B Common Stock to be issued upon the exercise of certain options to purchase Class A Common Stock.

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