I owned the Monarchy SM-70 (now Mk2) and it was terrific at 25w/ch. If you have really high efficiency speakers the noise floor can be a little bothersome, but with most speakers it’s fine. New it would be just under your budget, but I got mine used for significantly less.
http://www.monarchy-audio.com/SM70_MK2_Main_Frame.htm
http://www.monarchy-audio.com/SM70_MK2_Main_Frame.htm