Will a 60cm seat tube bike fit a 5"11 male adult? I got my eyes on this Raleigh:

https://www.ebay.co.uk/itm/VINTAGE-RALEIGH-WINNER-ROAD-BIKE-LOOK/352239962812?hash=item5203234abc:g:7YkAAOSwJH1ZLcwa

Yes it's a little expensive but I like the blue and white frame.

Am 5'11", is this going to be a good fit for me?

The seller said its frame size is 60cm measured from bottom bracket to top of seat tube.

Am a little confused because I was told a while back that measurement isn't necessarily the frame size. Is this true?
It's not impossible, but once you add the crank length and the height of the seat post bracket and saddle, I'd say it's unlikely unless your legs are long for your height. You certainly won't have much room for adjustment. 

Without a test ride, this would seem like a bad idea.