Bake the cheesecake in the water bath at 325 degrees for about 1 hour 15 minutes to 1 hour 30 minutes, or until the edges are set but the center still jiggles slightly when you gently shake the pan.
Turn off the oven, but leave the cheesecake inside. Prop the oven door open slightly with a wooden spoon and let the cheesecake cool in the oven for about 1 hour. This slow cooling helps prevent cracks. After an hour, remove the cheesecake from the oven and water bath, then cool completely on a wire rack.
Once fully cooled, wrap the cheesecake tightly and refrigerate for several hours, or preferably overnight, to allow it to firm up completely.
To unmold, wipe the sides and bottom of the springform pan with a hot, damp towel. Run a thin metal spatula around the edge of the pan before releasing the spring. Carefully lift the cake, still on its removable bottom, from the pan sides. To transfer, gently flip the cake onto a cardboard round or flat platter, remove the bottom, then flip it over again onto another serving platter for presentation.