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Copake Falls is a hamlet and census-designated place in Columbia County, in the eastern part of the town of Copake, about 1.5 miles west of the Massachusetts state line.

Copake Falls was once known as Copake Iron Works, after the iron-making operation that defined the community in the 19th century.

The Copake Falls CDP was designated after the 2010 census, and the 2020 census counted 181 residents in its 0.22 square miles.

Copake Falls sits along Bashbish Brook at the western foot of the Taconic Mountains, the range that runs along the New York-Massachusetts border.

The Copake Iron Works was established in 1845 by Lemuel Pomeroy along Bash Bish Brook and operated until 1903, and it is considered one of the most intact 19th-century iron-making complexes in the Northeast.

New York State acquired the abandoned Copake Iron Works in 1926 as part of the creation of Taconic State Park, and the iron works site and surrounding acres were listed on the State and National Registers of Historic Places in 2007.

The Copake Falls area of Taconic State Park lies directly east of the hamlet, with campsites and hiking trails, and its Ore Pit swimming pond is a flooded former iron mine about 40 feet deep.

Bash Bish Falls, the highest waterfall in Massachusetts, is located about 2 miles east of Copake Falls via New York State Route 344.

The former Copake Falls Methodist Episcopal Church was added to the National Register of Historic Places in 2012, and a portion of the hamlet forms the Copake Iron Works Historic District.