The Rockefellers will sell stock in their N.Y. center.

The family plans to sell a $1.1-billion stake in the historic Rockefeller Center complex through a financial package that avoids a direct sale of the center and the capital-gains taxes that accompany such a transaction. Rockefeller Center Properties Inc., a company created by the family to make the public offering, registered with the SEC a proposal to sell $600 million, or 30 million shares of common stock, and $500 million in convertible debt. The money raised from the sale would be loaned to the owners of Rockefeller Center--essentially the members and trusts of the family--to pay off the center’s $400-million mortgage.