It seems like more detail is needed. I like the sofa. What is the style of DH's new chair? Is there anyway you could show the room or just a floorplan? Is there a rug? I think you should sacrifice another recliner in favor of the Rave chair. That way you would only have two shades of brown to deal with.

Check Room & Board, which has more modern styles than others. Be sure to click on each sofa option because they are generally available in multiple sizes, including down to twin and double beds. http://www.roomandboard.com/catalog/living/sleeper-sofas Lots of options in leather and fabric. I highly recommend looking specifically at the ones that are made by "American Upholstery/American Leather", because they are as comfortable as a regular bed but also good as a sofa. We have the Berin, and have no problem having friends and family sleep on it (at worst, they describe it as similar to a "firm" mattress). It's in our study, and i often hang out on it as a sofa - and it is very comfortable. American Upholstery is generally considered the gold standard of comfortable sleeper sofas, so their venture with R&B (a modernist store) is probably exactly what you're looking for.

Thanks so much for reply. So this is my favorite abstract that formerly was in my old living room but this has a lot of pinks and pastels in it and it doesn't really go with all the brown in this shade of red I think. I also think that in my efforts to slowly get stuff to go with the red (global style pillows)- I may have gone too far with the other decor to make it work (even if it didn't clash with the brick red). The painting lives in my bedroom now usually- so it has a home at least but it for sure is more my aesthetic for a living room. Someting abour those three tapestries togegee just doesn't feel Right to me...or not finished at least. Any other ideas?

I’m not a designer but I think your instincts are right. If everything else is super light I agree the sofa will look too dark and heavy. I think a light, warm neutral paint would be great, and accents of blue would make that gold sofa sing. I think your existing neutral walls look okay, actually. What if you just tried painting the red accent wall a nice mid tone blue?