In Shandaken, CR 47 gains the moniker of Oliverea Road, continuing northeast away from Denning. The route remains the two-lane dense woods road, passing Winnisook Lake on the east side of the roadway. After a dart to the north, CR 47 bends east and enters a large hairpin turn, where it begins a descent alongside the Esopus Creek. After the hairpin turn, CR 47 proceeds westward, crossing over Cascade Brook and the Stephen F. Fischer Memorial Cascade Brooke Bridge, opened in May 2012 after the previous culvert bridge was destroyed by Hurricane Irene in 2011. After the Stephen F. Fischer Memorial Cascade Brooke Bridge, CR 47 continues west through Shandaken, passing several residences before turning northward near Valley View Road. CR 47 bends northwest, crossing alongside the Esopus Creek past some residences and a tennis court on the western side of the highway. After another dart to the northeast, CR 47 enters the hamlet of Oliverea, where it intersects with McKinley Hollow Road east of the creek.