It's a 52cm. From what it feels like standing over the crossbar, I think the stem may be marginally short. That being said, when I've got the STIs on there that will of course change. I'm about 5'6" give or take, but short upper body, so reach can be annoying.
I am 5'8" and cannot ride anything with a horizontal top tube longer that 52cm, my ideal being more like 50.5 to be able to use a normal length stem and hoods/drops.
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I'm 5'9" and the Surly I'm building is a nominal 50cm frame, but the TT is 535mm. I like a short reach anyway, but even more so on a tourer. It just shows you can't decide based on what size they market the frame as, I measured the reach on my other bikes and calculated what I wanted for the Surly I was pretty shocked when my figures said I need the 50cm frame with an 8cm stem. Now I've sat on it though it feels pretty good, I could probably go even shorter, though I think toe overlap could become a real problem.
I'm 5'9" and the Surly I'm building is a nominal 50cm frame, but the TT is 535mm. I like a short reach anyway, but even more so on a tourer. It just shows you can't decide based on what size they market the frame as, I measured the reach on my other bikes and calculated what I wanted for the Surly I was pretty shocked when my figures said I need the 50cm frame with an 8cm stem. Now I've sat on it though it feels pretty good, I could probably go even shorter, though I think toe overlap could become a real problem.