Have you looked on Craigslist? If you're willing to go used you can do much, much better. To me that sounds extremely high, but then I don't know the quality of the stand. I would be expecting a quality real wood stand at that price and not a particle board one.
edit: I looked up that tank, is it the one with one door in the center and then open sections? Obviously this is 100% a matter of personal preference, but consider your storage needs. When I look at that stand, I see wasted space. You might be underestimating the amount of equipment and daily materials that you need to store and hide out of sight. Just be sure you're satisfied that its storage capabilities are up to your requirements.