Genteel charm uptown
If your NYC visit centers on Museum Mile and environs, this hotel is a great choice. It's walking distance to all the big-name art museums. If you are a first-time NYC visitor, I would not recommend this location because you will have to navigate multiple mass transit options to reach the major tourist attractions. 
The hotel is small and has Old World charm, such as a nice, small breakfast room with complimentary continental breakfast. The rooms are small. If room size is a concern, this is not a good choice for you. We have stayed in a few other NYC hotels in the past and understand that rooms in this city are small, but The Franklin was the smallest room we have yet encountered. 
Although clean, the hotel is threadbare in spots. The desk in our room was scuffed and scratched, although it had a lovely ceramic chandelier. The window air conditioner, while welcome because of the outdoor temperature was as noisy as a jet plane. The neighborhood is residential, but lively. You are not "in the heart" of Manhattan, but you are in a nice place. So choose this hotel if it meets your itinerary and inclination.