Is this a relationship? Or nah?

There is this guy I've been having sex with for months now. It started as a stupid drunk one night stand and then turned into just friends with benefits and now I'm not sure what we are.

For the last 6 months we've been on again off again with the whole having sex thing. But as off recently I told him I started having feelings for him. He stated he didn't feel the same and that if that's how I felt that we should cut if off so that we don't ruin the friendship.

That lasted about a week or less and we're back to having sex I just don't show affection towards him afterwards. Now instead it's him who wants to cuddle up and always be by my side. If a guy gets too flirty with me regardless of if it's a really close friend or not he'll suddenly pop up near or next to me. When he greets me (I'm Puerto rican it's our custom to hug and kiss on the cheek) he doesn't give me a friendly hug it's more of a I haven't seen you in forever and missed you type hug. If I say goodbye he hugs me and acts like he doesn't want to let go. He buys me random things he'll give me money if I'm short on cash and if I try to pay him back takes less than what I owe him. He's a perfect gentleman as in he holds doors open and let's me walk up the stairs first but he's just giving me different signals now and I'm seriously confused as to wtf we are. I've talked to him once already and he said he didn't have the same feelings towards me but that he did try at first. He also stated that he didn't want to ruin the friendship that we had or the friendships we share with others (we all grew up together). And to make it just as difficult, he's a very close family friend of my family and he's younger than me by 3 years. Am I misreading him or am I trying to see something that's not there?