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Preheat oven to 300 degrees.
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Mix together graham cracker crumbs and sugar in an 8 inch springform pan.
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Add melted butter and stir in until mixture is moistened.
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Press crust into bottom and partially up the sides of the springform pan until firm.
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Bake for 5 minutes.
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Prepare filling:
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In a large mixing bowl, beat cream cheese until smooth.
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Beat in eggs 1 at a time.
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Beat in Sweetened Condensed Milk.
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Add vanilla, key lime juice and lime zest; beat until combined.
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Add to the top of the graham cracker crust.
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Foil the sides of the pan.
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Place cheesecake in a roasting pan filled with water that reaches around 1/3 of the way up the sides of the cheesecake pan.
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Bake for 1 hour.
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Turn off oven and leave cheesecake in the oven for an additional 30 minutes with the oven door propped open.
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Remove from oven, remove cheesecake from water bath and allow to cool completely.
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Once cooled, cover the cheesecake while leaving in the springform pan.
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Refrigerate at least 4 hours before removing from pan and serving.
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Garnish with slices of fresh lime and whipped cream.