Cole Palen was the founder of the Old Rhinebeck Aerodrome, a living museum of vintage aircraft from 1900-1937 located in Red Hook, New York. He became recognized for his work in the preservation of early aviation history. Palen's aerodrome boasts one of the finest collections of antique aircraft in the world including an original 1909 Bleriot XI, the oldest flying aircraft in the United States and the second oldest in the world. He also created many accurate flying replicas of historical aircraft. Many of these take part in the regular airshows which continue to place at the Aerodrome.

The Old Rhinebeck Aerodrome is a living museum in Red Hook, New York. It owns many examples of airworthy aircraft of the pioneer era, World War I and the Golden Age of Aviation between the World Wars, and multiple examples of roadworthy antique automobiles.