Opened on July 1, 1918, Franklin Street is a local station on the IRT Broadway – Seventh Avenue Line of the New York City Subway, located at the intersection of Franklin Street, Varick Street, and West Broadway. It is served by the 1 train at all times, and by the 2 train during late nights.
The station has two side platforms and four tracks with no crossover or crossunder. The full-time entrance is on the uptown side, on a traffic island where Varick Street and West Broadway meet. There is a kiosk reminiscent of the original IRT kiosks at 72nd Street and Bowling Green, but it was added during the station's renovation during the mid-1990s. The downtown entrance is on the west side of West Broadway, but the booth is not staffed at all times. There are part-time high-exit turnstiles one block north, at North Moore Street, on both the uptown and downtown sides.
There are "store window"-style art displays on the southbound platform and a faux-newsstand on the northbound side. Although the station's original wall tiling was replaced during renovations, its mosaic bands were kept; there are "Franklin Street" large mosaics, small "F" mosaics and directional mosaics "To Franklin St." and "To North Moore St." The floor tiles are rose-colored.