I think the challenge with this type of resource would be the quality of the commentary. I frankly wouldn't expect such a commentary to provide a really good look at either Jewish or Muslim beliefs.
I mean a Jewish commentary on the New Testament would be like a Christian commentary on the Qur'an ... the commentary would either be written by someone who has rejected the authenticity of the books they are commenting on or by someone who accepts the books in some fashion contrary to the orthodox beliefs of their group. On the other hand, while a Muslim commentary on the Bible may be able to provide some insight on their beliefs, it would necessarily either be written from the viewpoint that the texts are corrupt and untrustworthy or from a viewpoint that likely wouldn't represent traditional, orthodox Muslim beliefs.
My initial thought on how to achieve what you are describing would be to get a trusted commentary from each faith group using their accepted texts and try to learn about their beliefs that way. For example, at one point I selected
The Meaning of the Holy Qur'an as a potential resource for learning more about Islam, but I never got around to that study.
The other approach would be to read some of the material written by Christians who have studied the beliefs other faith groups; one online resource for this is
CARM.