You can put that outfit together all day long at Marshall's , Daffy's or C21 in you are in NYC. You'll spend half your budget. But the key is to take it to a good tailor afterwards. You still come in under budget.
FWIW I have the an outfit that looks 99% the same: $80 Incotex, $50 Barbera shirt, $200 Ferragamo. I did spent $25 at the tailor to slim the shirt on top of that.