Pour water into a large bowl and sprinkle yeast over it. Let soften for a minute.

Add milk, egg, sugar, and salt to the yeast mixture.

Whisk to combine the ingredients.

Set aside.

Put flour into a food processor, add cold butter and pulse until the butter is cut into 1/2-inch pieces.

Empty the food processor contents into the bowl with the yeast mixture.

Gently turn the mixture over with a rubber spatula until the dry ingredients are moistened, ensuring the butter remains in discrete pieces.

Cover the bowl and refrigerate overnight or up to 4 days.

Lightly flour your work surface and turn out the dough, dusting it lightly with flour.

Pat the dough into a rough square.

Roll out to a 16" x 16" square.

Fold the dough in thirds like a business letter and turn so that the closed fold is on your left.

Roll again to a 10" x 24" rectangle.

Fold in thirds again, turn so the closed fold is on your left.

Roll into a 20" x 20" square.

Fold the square in thirds and turn so that the closed fold is on your left.

Roll into a 10" x 20" rectangle, fold in thirds again.

Wrap dough in plastic and chill for at least 30 minutes (up to 2 days).

Dough can be frozen for 1 month; thaw in the refrigerator overnight before use.