Roll it up and save it for another home/room. It clashes with the modern flavor of the art and the MCM of the couch.

Not a pro. I wouldn't go so far as to say that the rug clashes with the other elements, but I do think that it makes the room look like a hotel lobby. If that's not the look you're going for, switch it out for a rug with softer, more neutral colors.

Persian and Oriental rugs are a very classic look with modern styles and neutral furniture. I think yours looks great, nice color and interest. Art for the floor. :)

A lighter one would look nice, too. Just personal preference.

Thank you, I will replace the couch and add a couple of chairs in light colors. My main concern was weather it would seem too busy with the painting above it and everything else white/neutral. What do you think about painting the frame a lighter wood color?

Since you are asking and willing, my vote goes to a smaller and lighter rug.

Whether not weather, Oops!

I don’t think it’s too busy with the art. I wouldn’t paint the frame lighter ... but again, that’s just my own preference.

All that said, I didn’t realize you were changing your furniture, so that’ll definitely be a factor. :)

If you are getting a new sofa, I'd get a longer one if you are placing below the art. Can you take a photo further back so we can see the full extent of rug?

I really appreciate all of your comments and suggestions!

The frame might look great painted white with the lighter furnishings. If it were me, I'd get some white, easy to remove tape (like masking tape...not white usually, but lighter than your frame is now) and cover the bottom part of the frame - or just lightly scotch tape white paper over it, and see what you think.

For the look you seem to be going after, I'd probably remove the valance. It adds more darkness to the room than the rug imo.

The art seems too big to be behind any sofa. Is there a large wall in the apartment where you can hang it with plenty of wall space around it, say in the dining room? It would really allow the art to be a focal point. Your rug looks like it would be attractive with most any neutral furniture. I'd consider how much light the L/R gets, wall color etc. in then new place though.

Hanging that painting in the dining space is an interesting idea. The dining space is right off the living space, it's just one long wall. But it just might be my solution if I can hang it high enough so as not to have the dining table take away from the view of the painting. The dining table is a glass top rectangle with a marble block base. I plan on finding low back dining chairs (white & wood) and adding a bench for sitting closest to the wall. How does that sound?

Yes, that sounds good, but I wouldn't worry about the table blocking the artwork. I'd hang it about the height it is now.