Exhibit 99.1

         Avatar Holdings Inc. Reports Results of Redemption of 7% Notes

    CORAL GABLES, Fla., Nov. 25 /PRNewswire-FirstCall/ -- Avatar Holdings Inc.
(Nasdaq: AVTR) (AVTR)  reported that the call for redemption of all
outstanding 7% Convertible Subordinated Notes due April 1, 2005 (the "Notes")
as of November 25, 2003, resulted in redemption of $13,387,000 of the
remaining outstanding $34,077,000 principal amount of the Notes.  Holders of
$20,683,000 principal amount of the Notes elected to convert, resulting in the
issuance of 650,378 shares of Avatar Common Stock.

    After giving effect to the issuance of 650,378 shares, there are 9,384,766
shares of Avatar Common Stock outstanding.

    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, Arizona.  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 to regional market areas; 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; and other factors as are
described in Item 7 (Management's Discussion and Analysis of Financial
Condition and Results of Operations) of Avatar's Form 10-K.

SOURCE  Avatar Holdings Inc.
    -0-                             11/25/2003
    /CONTACT:  Juanita I. Kerrigan of Avatar Holdings Inc., +1-305-442-7000/
    /Web site:  http://www.avatarhomes.com /
    (AVTR)

CO:  Avatar Holdings Inc.
ST:  Florida
IN:  CST RLT
SU: