I like second plan! That space will fit the wardrobe perfectly. Take all colors from the art. The colors can be lighter or darker than the colors you see in art. Take "Venice" with you to paint store and they might be able to help you choose good colors. Idea: paint four walls the same and see if you like that. If you feel the room lacks interest, then paint the accent wall. Choose a pale green that harmonizes with "Venice" and a darker green accent. Yellow + red accent White + blue accent

Have you ever thought about floating shelves? I think pairing a few floating shelves together would look great and would free up space in your living room. I really like the Eugene floating shelf from Bryght and I think it would compliment your existing pieces. http://www.bryght.com/product/160/eugene-cocoa-shelf

Perhaps a large round table might mean a rug is not at all necessary. It could be a metal tray table, or carved wood like Rebecca Mitchell Interiors illustrates. Ideas also to consider, using multiple tables can be found at http://www.houzz.com/multiple-coffee-tables. I also agree with comments above that some color is needed on the walls. You could then hang round mirrors, or an unusual curved shape like RMI shows above.

I suggest you follow the step-by-step guide for creating storage cabinets under the bathroom sink. Take proper measurements - Measure the available available space in height, width and height. Cut Plywood to size - With a circular saw and framing square, cut all the required pieces out. You can use a sliding compound saw as an alternative. Attach the base and sides - Start assembling the sink cabinets by placing the bottom piece of plywood sheet on a flat surface. Attach the back and top boards - Place the plywood sheet for the top part of the cabinet and attach wood screws to connect it to both the sides. Turn the back faces of the cabinet upwards. Keep the back piece over the structure and fix it into place with wood screws. Attach shelves - Place the cabinet in an upright position to install the shelves. Slide a shelf into the structure so it is flush against the back. Attach door - Keep both hinges of the door on the same side of the plywood sheet. Drill them using wood screws into place. Now keep the door over the cabinet structure, extend the hinges to one of the side panels and fix them to make them secure. Fix a hasp closure on the other side of the door, placing it in the center of the hinges.