Especially for construction in the NYC metro, that estimate is low by at least half, probably more.
I was involved with a recent AM tower rebuild in a much smaller market on an existing site. It came to over $100,000 per tower just for the tower construction alone, and that was for towers that were shorter than what a class A 1560 would require.
I believe that there's equipment from Maspeth in storage, including a relatively new transmitter and a phasor that could be rebuilt so you're not starting from scratch.
It's still going to be a multi-million dollar project at a brand new site, not including the cost of land acquisition and the legal morass involved in any kind of new tower construction. Ground systems are super expensive these days, a prefab building big enough for 50 kW AM is still in six figures to buy and install, and on and on.
The bigger issue for now for Family, if it has any real intention at all of putting 1560 back on the air, is that the clock is now ticking for the 365-day deadline to resume operation via STA. If February 2025 comes around and nothing's returned to the air at all, the license goes away on its own.
I don't read anything much into the Albert objection or the FCC response. It's boilerplate. Staff knows very well how hard it is to get a high-power AM back on the air and understands that the Commission can either be patient with multiple STAs or watch these stations start disappearing completely even faster than they already are.
Finally, the reality is that even if you read STA filings carefully, you won't know most of what is happening or not happening behind the scenes on a complicated project like this. There are things I know and can't say about what's been tried so far, and nobody on this thread has even come close to guessing some of the possibilities.
If 1560 survives, you'll see a few rounds of STA extension requests that will basically say "we're working on a new site" and eventually a minor mod app for that new site. If it's not going to survive, the only thing you'll know publicly is that the license is being surrendered.