It's a burke #4 estimate imo is probably a bit high unless you're willing and able to sit on it for a while. There was a real nice one out my way that took 3 years to sell, being listed continually on craigslist for 700$ I finally gave him 500$ and took it home. I just bought 2 of them for about $500 each, with the original gear motors and tooling and collets. if I didnt already have two of them I'd be interested, but as it is i'm more just looking for tooling, horizontal arbors, vice, indexing head etc, than another whole machine. If you had the vertical head too then i'd say the estimate was right.
What part of New York are you in? I might be able to pass on info to some friends of mine.
If you end up willing to part with the arbors and cutters and vice, one of my machines has a vertical head and the factory 3C collet setup, and the other only came with a metric arbor, so i've been looking for 1" , 7/8 and other standard arbor sizes and cutters, and a 2nd small vice so i dont have to move mine between the 2 machines would be nice.