It does appear to be a fairly nice solid car. Sadly I'm not local right now to see it in person, if I was I'd probably try to talk my friend into finishing it and selling it for even more. As you can see in the background of the pictures, he's got a full shop of projects as it is.
Your dad's 32 5 Window project sounds awesome, I'd love to see pictures. And a 35 Phaeton sounds even better but then I have a soft spot for 35 - 36 cars. I'd always hoped to find a 36 Ford of some sort for my father, but he passed away before I could come up with one. He owned several Phaetons and coupes before I came along and he always wanted another one later in life.
25k for a Phaeton sounds like a good price to me, I see them bring twice that and more when they're finished.