According to the Puerto Rico Sate Historic Preservation Office Register of Historic Places, this property's original owner was Lt. Col. Ret. Carlos Vassallo, an Italian immigrant who arrived on the island shortly after the Royal Decree of Graces of 1815.  By 1847 Vasallo was already a plantation owner per the 1847 baptismal records of children of 3 of his slaves which so state.  The register indicates the manor house was built in 1849 and the existing chimney, located approximately 1 mile south of the house, is reportedly from 1861.

In her book Capitalism in Colonial Puerto Rico, Teresita Martinez-Vergne states that in November 1870 Leonardo Igaravidez lent Gervasio Medina Altualde, then owner of Hacienda Media Luna, the sum of 32,000 pesos to finance that year's crop.  The history, years of operation and chain of ownership of Hacienda Media Luna's  are not stated in José Ferreras Pagán 1902 book Biografía de las Riquezas de Puerto Rico as he states its then owner, José Nevares, denied providing any information.  He does state that it was no longer in operation in 1902 and its sugarcane were then processed at the nearby Central Constancia.  He also states that the sugar factory facilities at Media Luna were in a bad state of disrepair and some of its original land holdings leased to Central La Luisa in Manati.

Several sources report that Hacienda Media Luna was established by Cipriano Nevares as a 60 acre plantation.  We do not have birth and death dates for Cipriano but based on the birth dates of his son José Nevares Rivera (1804-1863), he must have established the hacienda in the late 1700 or early 1800s.  That being the case, and if the hacienda always remained in the Nevares family, we have no explanation for the statement by Martinez-Vergne it was owned by Gervasio Median in 1870.

José Nevares Rivera supposedly inherited the hacienda after Cipriano's death.  José and his wife Maria Ramona Marrero Rivera had five children: Ceferino (1837-1893), Maria de las Nieves (1840- ), Maria Genara (1831- ), Francisco (1840-1925) and Jacinto (1842-1914) Nevares Marrero.  It appears that after José Nevares Rivera's death in 1863, the hacienda was owned by his estate under the business name Ceferino Nevares & Hno.  The firm ran into excessive debts and became insolvent, so on June 27, 1882 Ceferino Nevares Marrero, who appears to have been its administrator, individually acquired a mayority interest in a transaction that included the acquisition of his siblings participation and a promise to pay all creditors.

Ceferino Nevarez Marrero married Maria Dolores Landrón Arnau ( -1872) and had two children; Rafaela who married Luis Izquierdo Serrano and José  (1863- ).  José married Petronila López Martinez (1860-1911) and had eight children: Rafael (1884-1966), Mario (1886-1920), Oscar (1887- ), Dolores (1889-1918), Jose Tomás (1893-1944), Ramon (1895- ), Jorge (1900-1982) and Roberto Enrique (1904-1919) Nevares Lopez.  After the death of Petronila, José married Mercedes de la Torre Berrios (1857- ) on September 6, 1914 with whom no children were procreated.

In September 1905, Ceferino's son José Nevarez Landrón acquired full ownership of the hacienda when he purchased José Pons' interest in Media Luna, interest that Pons had acquired in lieu of payment of debt. 

There are a few interesting facts about the Nevares family.  In 1911, Rafael Nevares Lopez married Inés Guillermety Romañat and among their children was Hector Guillermo Nevarez Guillermety (1916-2013) who in 1942 established Suiza Dairy.  Today lands of Hacienda Media Luna that once were used to grow sugarcane are cow pastures/dairy farm related to the family's Suiza Dairy operations.  Also an interesting family relationship is that of Oscar Nevarez López who married Margarita del Valle Olmedes (1892 - ) on August 8, 1912 and with whom he had two children: Francisca (1914-2011) and Oscar (1918- ) Nevares del Valle.  After Oscar divorced Margarita, on September 1927 he married Ena Luisa de la Baume Marini (1907-1999) whose family owned Hacienda Boquerón in Cabo Rojo.

Francisca (Frances) Nevares del Valle, the daughter of Oscar Nevares Lopez and Margarita del Valle Olmedes, married Felix Juan (Fao) Serrallés Sanchez (1911-1985) member of the Serrallés family owners of Central Mercedita in Ponce.  Frances' brother Oscar Nevarez del Valle married Irma Padilla Rodriguez and their daughter Irma Margarita (Maga) Nevares Padilla married Dr. Pedro Roselló Gonzalez who was Governor of PR from 1993 to 2001.  Pedro and Irma Margarita were the parents of Ricardo Roselló Nevares, also Governor of PR. from 2017 to 2019.

It is reported that today, the manor house belongs to Oscar Nevares Padilla, the brother of Irma Margarita.