It runs from Frederiksberg Town Hall Square in the south to Ågade on the border with Nørrebro in the north, linking Allégade with Jagtvej.

The falcons, gyrfalcons brought home from Iceland and Greenland, were used as gifts for foreign rulers by the Danish kings on their journeys abroad.

The road was originally gated at each end but it was opened to the public after Hømarken (literally "Hayfield"), an area to the north belonging to Ladegården, a farm under Copenhagen Castle, was auctioned off in lots to wealthy citizens from Copenhagen who built their country houses on the land.

Sophienlyst was constructed in 1790 by brewer Herman Søderberg (1751–1800) who named it after his wife Johanne Sophie Kofoed (1770–1798).

The first houses along the tree-lined avenue were built around 1850, but until 1859 Falkoner Allé And Jagtvej marked the so-called Demarcation Line which enforced restrictions on construction of buildings outside Copenhagen's City Walls.

Further north, also on the east side between Rolighedsvej and Ladegården, was a beer garden and entertainment venue, founded in about 1850, which survived until 1907.

Falkoner Center, a hotel and conference venue, has replaced Frederiksberg's old town hall on the corner with Howitzvej.

Hostrups Have, the Modernist residential complex from 1936 designed by Hans Dahlerup Berthelsen, enclosing a garden space, is located on the corner with Rolighedsvej.