In a large mixing bowl or stand mixer, add warm water and yeast and whisk together. Let sit for a few minutes to get foamy (blooming process).
In a small saucepan or in a microwavable bowl, add milk and 1/2 cup of butter and heat to warm and melt butter. Let cool until it's about 110 degrees F (or like warm bath water).
Add the milk and butter mixture, sugar and egg to the mixing bowl and mix just to combine.
Add the flour and salt and knead with the dough hook for a few minutes or until the dough is smooth and clean. If it seems sticky, add a tablespoon of flour at a time until the consistency is smooth and doesn't stick to your finger. If you don't have a stand mixer you could use your hands and knead the dough on a well-floured surface.
Transfer the dough ball to a lightly greased bowl, cover with a warm damp towel and let dough rise for an 1 – 1 1/2 hours, or until it has doubled in size. The time will vary depending on the humidity and temperature in your home. To make your towel warm, place the damp towel in the microwave for 30 seconds
Divide the dough in half and place each round on a lightly floured surface. Roll each dough ball out to into a round 14 inch diameter. Melt the remaining 1/4 cup of butter and brush on top of each rolled out dough ball. Use a pizza cutter or sharp knife to cut 12 wedges on each circle. Roll up each wedge starting from the wide end to form a crescent. Be sure to tuck the pointy end underneath the roll.
Line 2 baking sheets with parchment paper and place 12 rolls on each sheet. Cover lightly with a kitchen towel and let rise to get puffy for another 30-60 minutes.
When ready to bake, preheat oven to 350 degrees F. Bake for 15 minutes, remove from the oven and then brush the tops with more melted butter (optional) and bake for another 2-3 minutes or until the tops are a light golden brown. Cool for a few minutes and then serve immediately. Enjoy!