Mike,
I would guess the photo was taken some time in the late 50s or early 60s by the clothing and the vintage bikes the boys have. I have researched the history of the Palace Hobby Shop in Albany New York with little luck in finding much about it. Some people have posted memories of the shop only to say it went away sometime after the 70s some 20 years from my time going there. Why our minds only seem to hold some information is unfortunate as I can only vaguely recall seeing the two aisles of the narrow store, the glass cases and the wall behind filled with model kits stacked with the ends of the boxes displayed. There was something magical about the PHS and boy do I wish I could walk those aisles just once more time again today.
Thanks,
Steve