The film 'Little Old New York' from 1940 does not appear to feature any identifiable LGBTQ+ characters or themes. Given the era's strict production codes, such depictions were generally absent from mainstream cinema. Therefore, the film's net impact on LGBTQ+ portrayal is N/A.

The film's narrative centers on a cisgender female character who adopts a male disguise for practical reasons related to an inheritance. This plot device, common in historical cinema, does not involve or depict transsexual characters or themes, as the character's gender identity is not explored or questioned within the narrative.

The movie does not contain any action or adventure elements.

The film features a female character, Pat O'Day, who disguises herself as a boy within the story's plot. This is an in-story gender disguise, not a gender swap of a character previously established as a different gender in source material or history.

The film is a historical drama featuring both fictional characters and real historical figures like Robert Fulton and John Jacob Astor. The actors cast for these roles align with the established or historical race of the characters, with no instances of a character's race being changed from source material or historical record.