He left the friend zone! Now what?

I'm falling for my best friend...hard. Not sure what sparked it after all these years, but we FIT and he agrees. The problem is, he doesn't want a long distance relationship right now, but the attraction is still growing on both sides. Like despite agreeing to stay platonic, we talk openly about what it would be like to be together, and the sexual tension is insane! I've tried to protect my heart and pull back, but we're like magnets at this point...

my day isn't complete without him and vice versa. Anyway, I'm stumped on what to do. Wait and see what happens?