When he tears a chunk off the building to throw at you, his heart area shines blue just as he's lifting it over his head; hit that with a rocket while it's shining and he'll stagger back and drop the chunk of building, then come up to you and start pounding his fists around where you're stood. Dodge those, and once he's finished pounding he'll lean over and you'll see the top of his head, also shining blue. Give that another rocket and his life bar goes down. Repeat two more times and he's a goner.
It might be a bit tricksy to get the timing right the first few times, but once you've got the knack for it it's easy enough. Using the zoom on the launcher can help when going for his heart, but it's not strictly necessary. If you run out of rockets there's a vending machine down by where you pick up the launcher that will give you some more as long as the fight lasts.
Oh yeah - and make sure that you've got a valid save from just immediately before you pick up the rocket launcher in case you hit the door-not-opening bug shortly after (hopefully that will be patched soon - it's far more important than anything to do with textures up close).