I like it but I would remove the pottery from the shelves and place one piece on each side of the TV mantle.

Lay only a few coffee table books flat on each shelf.

If possible, replace the TV with a painting about the same size. Find another wall for the TV.

The fireplace is rather striking. But the wall color (on my monitor) appears too cool vs the warmth of the flooring and fireplace. Perhaps look at the wall color for change.

Is that built-in as historic as the rest of the house? It looks like it could have been added at a later date. It is a bit much. Have you thought of trimming it down to minimize its mass?

It looks like great quality millwork but they McMansion'ed the scale of it. It belong on a wall in a room four times this size. I understand why you want to visually shrink it.

I respectfully disagree with @BeverlyFLADeziner (who in my mind is always right!) . I think the white rendering does help. But, color drenching the room - walls, build in, trim, and ceiling all one color would help even more.

I don't know how much work is involved but I'd try to remove the arch above the TV and place a much smaller crown on the whole piece. This would really help it appear less steroidal.

Thank you for all the great suggestions. We did look at removing the arch, but it would damage the wood underneath. I've even wondered about removing everything except the mantle. Estimates for painting just the built-in have ranged from $2200-4000. I like the white rendering @BeverlyFLADeziner did. But, painting the walls a warmer color is more budget friendly. Once we move in I'll update you all. This has been so helpful. Thanks!

If it is an "historic" home are there any rules or covenants governing what can be done to the house? The fireplace and built-ins don't really look original to the home. Were they a later addition? The wood is quite beautiful. It would be a shame to paint it.

There are no rules for the interior. The sellers did a number of updates. The room gets a lot of natural light, but the gray walls don't really flow with the paint color of the other rooms.

That does not look historic to me at all. I doubt it is original. It actually looks like Kraftmaid cabinetry to me - the color, the molding shapes etc.

Do you need all that storage? If you are considering painting it, then it won't matter if some of the wood is damaged while removing some components.

I like Beverly's ideas ( awesome, as usual ) of the same color as the rest of the room - bold and rich.

My gut would be to remove it all and find a great antique piece as a console.

Good luck in whatever you do - please post after pictures!!