You might consider covering the brick with either a neutral porcelain tile or simply sheet rock around it. See example photos below:

Wait until you move in before you close off that wall. You might need the opening for circulation and/or balance of the fireplace.

I would definitely consider either of those if I was converting the unit to gas but I am keeping it as a wood burning fireplace.

I'm not sure how that correlates with Sheetrock and/or porcelain tile around the surround.

My wife wants to do something like what's attached but the opening is round. Think it will look good ?

Tear out all the brick and hang the fireplace from the ceiling. I did this in my house in Michigan. Turned out great.

First you need a lighting plan. You can't see anything in the room!

Lol I agree with the lighting plan. It has old wooden hollow beams on ceiling. Not structural beams just decorative (for the era it was built).

My lighting and ceiling plan (I think) is to add one horizontal box in larger sized room and "box" around the old wood on the ceiling creating a coffered look. Add crown and some moldings etc and put a hi hat in each "box".

Remove the popcorn ceilings and walls, of course.

To the left of the fireplace do I frame up to the ceiling and box the whole thing in ?

Have some ideas just trying to finalize this plan. And I do appreciate input.

Thanks !

No "box" on the ceiling. You need some recessed lighting, if you have head room for them, you need a chandelier on each side and then perhaps some sconces, depending on what you do with the fireplace. Then some table lamps when you get furniture in place. I would also choose very light white paint for the walls. SW High Reflective White, or BM Simply White and brighten up the ceiling and walls. Brighter flooring would help as well. It looks like red oak so I would sand it down and get a natural look going which would be lighter and brighter. Then with some great rugs and furnishings this can be a cozy, inviting space.

The stair-stepped shape is a little funky. I wonder if bringing in a mason (for more brick, or concrete?) to square up the shape would help.

Hello. I would paint this fireplace white color. It will give ease and will make this room of lighter.

In regards to not boxing the ceiling, keep in mind the main area of the fireplace has 9.5' ceilings while the backside of the fireplace starts at 9.5' ceilings and vaults up to 12'.

I'm at a loss with this and cannot decide what to do!

I really love your funky fireplace! It adds character to your space and is unique. I wouldn't ever think of refacing it.... leave it alone. I think the stair step side of it is attractive. Your home is quirky, yes, but it has personality. Live with it before you make any changes to it. I, for one, would address the rough ceiling and lighting issues first. Recessed lighting is the only way to go, with chandeliers and sconces as suggested. Just be sure the fireplace is in safe, working order before using it.

That's an incredible space. You have a lot of options, and we love the idea of the wet bar on one side! Did you make any final decisions on that? We sure hope you'll share a picture when you're done! Here's a few double/triple sided fireplaces that we have completed for some design inspiration for you. Good luck!

Attached are photos of the space finished. My wife and I put our old furniture in and have lived withit for two years. Now time to furnish properly! Any suggestions on layout ? The small area just behind the fireplace has distant water views and is nice and full of light. Please any advice is appreciated.

Nice work! A pair of swivel chairs with ottoman in smaller space would create cozy reading, relaxing, and gazing at view spot. On the other side a small scale sofa and a pair of guest chairs with a couple small stools that act as ottomans or coffee tables.