Would not even try to create traditional built ins because you'd not be able to balance them. Instead, cut off that extended mantel, both left and right of the blue vertical sides.

You could then add a large cabinet -- perhaps a curio with glass doors (less dusting time for your treasures) -- to the left of the fireplace.

Thanks for the suggestion! My other thought was to hang shelves above and find a cabinet for underneath. But worried it will not look as nice.

you can drop the wires down from the ceiling, or, take it behind the wall. you just have to be mindful of the fire blockpieces between the studs (you need a long bit drill to drill a hole in them) This is just one illustration. there are other ways

Since your tv is so large, the entire thing looks out of proportion. If you're going through the trouble of redoing it, you might as well redo the entire thing. It will look better. For instance, the width of this one would be better suited for the size of your tv.

BTW, I prob wouldn't do anything on the right, due to the stairs being so close to it. Redo the fireplace and have it match the shelving on the left. Like some of these.

If you could do something like this, you may have to find a smaller tv, to keep the same layout/size of your current fireplace.

something like this size would also work. you could choose to tile over this, or skim it w/the cement like shown

Thanks for the suggestions and photos! Maybe a smaller tv? Is that what you recommend? We kept this one since we have no where else for it. I want to redo the whole thing but that seems upwards of $10k in the Seattle area.

Also, I think it look so cluttered because of the walls and wrap around mantel. I notice in the photos it’s a more modern sleek look with a ledge and then cabinet or shelves to the left

Kelly, I posted a few extra photos in my other comment. look at pic #5. you could do that w/a smaller tv. (but only the left side shelf. you could also just do floating wood shelves, or even use a pre-built wood cabinet and paint it. Look at Ikea Hacks using Billy bookcases as well)

I agree that the current look is rather cluttered looking. (was it built in the 90's?)

can you guys do any DIY? Redoing the entire thing for 10K seems a little high. But if you guys could study up and learn how to demo and do a few other things, you'd save quite a bit.

If you're at all DIY inclined, invest in a saw

https://www.walmart.com/ip/Hyper-Tough-6-5-Amp-Reciprocating-Saw-3328/886301494?wmlspartner=wlpa&selectedSellerId=0&adid=22222222227000000000&wl0=&wl1=g&wl2=c&wl3=42423897272&wl4=aud-430887228898:pla-51320962143&wl5=9011047&wl6=&wl7=&wl8=&wl9=pla&wl10=8175035&wl11=online&wl12=886301494&veh=sem&gclid=EAIaIQobChMI4-_z6c7c6QIVEI7ICh3VYA_bEAQYAiABEgJIr_D_BwE

and pry bar

https://www.amazon.co.uk/gp/offer-listing/B0002JT0HS/ref=pd_lpo_60_t_0/257-8399052-1770450?ie=UTF8&pd_rd_r=2276dd21-0c92-4e66-ba9c-78f376325801&pd_rd_w=PL6HC&pd_rd_wg=q9GAS&pf_rd_p=7b8e3b03-1439-4489-abd4-4a138cf4eca6&pf_rd_r=9AKVWGARQBN0SBX84JES&refRID=9AKVWGARQBN0SBX84JES

and cut the mantel "overhang" yourselves beginning with the right side. You may need the wood from the part you cut off the right side to help you pry the left side loose from the walls after it is severed from the mantel over the uprights.

https://www.youtube.com/watch?v=48qQ5ToP95M

Cut the edges as straight as you can; however, don't sweat the small stuff -- you can smooth the surfaces and round the corners after once the excess mantel has been removed.