Did I do the right thing by ending this friendship?

If you are too attracted to someone to just be friends with them then you could ofer an explanation like "I have feelings for you that go beyond friendship and don't think this can continue unless we explore that part of the relationship." In other words if you can't be together as in dating then you can't be friends. If this is how you presented it and he still brushed you off them he obviously wasn't as good a friend as you thought.