In a small saucepan, combine the milk and water and heat to 110 degrees (or mix together in a microwave safe bowl and heat to 110 degrees).
Pour the warmed milk mixture into a small bowl. Add the yeast and 1 tablespoon of the sugar. Set aside for 5 minutes until frothy.
In a large bowl, whisk together the flour, remaining sugar and salt.
Cut the cold butter into the flour with a pastry cutter until the butter is pea sized.
Stir in the yeast mixture and egg until a wet dough forms.
Wrap the dough in plastic and refrigerate for 30-45 minutes.
Unwrap the dough and place on a floured surface.
Roll the dough out into a circle ½ inch thick. Fold the dough in half to form a semicircle. Fold the semi-circle in half. Roll the dough out again into a rough circle ½ inch thick. For a second time, fold the dough into a semicircle and then in half again.
Wrap the dough in plastic and refrigerate for another 30-45 minutes.
Unwrap the dough and place on a floured surface.
Roll the dough out into a large circle ¼ inch thick, or slightly thinner. Cut the circle into 16-18 thin triangles.
Roll each triangle from the widest end to the thinnest point. Place the rolls on a baking sheet lined with parchment paper or a silicone baking mat. Cover loosely with a clean kitchen towel and set aside in a warm place to rise for 1 hour.
While the rolls are rising, preheat the oven to 400 degrees Fahrenheit.
Bake the rolls at 400 degrees F for 10 minutes or until golden brown. Cool slightly and serve warm.
Notes
The calories shown are based on the recipe making 18 rolls, with 1 serving being 1 crescent roll. Since different brands of ingredients have different nutritional information, the calories shown are just an estimate. **We are not dietitians and recommend you seek a nutritionist for exact nutritional information.**