Prosecutors say the gunmen erroneously thought the four men were members of a rival street gang.
The three others injured in the shooting survived, but are all permanently disabled.
Prosecutors say Dailey and his alleged accomplice are members of the Bloods gang. The accomplice is awaiting trial.
"This cold-blooded execution demanded the maximum prison sentence, and I am glad to know that this man will never again see the light of day," Nassau County District Attorney Kathleen Rice said. "I hope Mr. Alvarado's family and the other victims of this tragedy can take some solace in that."
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