Please send some clear, in-focus, close-up images of the surface so I can see the texture and a view of the backside (do not remove from frame).
Thank you for the images. Please allow me some time to look them over for you.
I am not able to tell you the artist of the painting nor who the sitter is in it. I can opt out if you like, at no additional charge and open your question to all the experts.
The painting, based on the style of her "Christy Girl" (a la Howard Chandler Christy) clothing and hair, as well as the stretchers on the back side from circa 1905 - 1910.
She is loosely based on the 'look' of women idealized by illustrators at the time and the Coca-Cola girl model.
The gilded frame is Arts & Crafts era style or circa 1905-1910.
The Friedman tag with the phone number STuyvesant 9-5178 was implemented in the 1940's. It is more likely the painting was sold through them as opposed to re-framed by them.
Value os based on comparables, an unsigned early 20th century painting of a woman in gilded Arts & Crafts frame would have a suggested insurance or replacement value of $800 on today's market.
Usually there is not a signature under the frame. If signed, the framer rarely covers the signature. This is also a rather 'intimate' portrait for its time and in terms of societal norms for that era, its not unusual for this to be unsigned
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