Someone will bite. If you have some money, the tools, the skill, and the time this could be a decent boat again. The teak deck has to come off NOW, there WILL be extensive delamination in the deck, and it WILL have leaked on the steel tanks below which are probably corroded to the point of having to be replaced. This is a PITA unless the engines come out. Then theres the shafts, bearings, struts, alignment, through hulls, rudders, steering. Electrical will need some, if not lots of love, as will water and waste. Lots of rehabbing the interior, fabrics, flooring, cushions. Windows ARE leaking, that'll need some looking at. Galley systems like stove and fridge will need some love too..... And there's more, there's ALWAYS more. But, like I said, someone will bite, and again, if they have the skill, tools, some money and time, and are REALLY good with E-bay and Craigslist they'll have a decent boat (a year or two or more from now) that they can enjoy and in the end probably get most of their money back. Don't even THINK about a yard doing ANY of this. In that case it's cheaper to buy one in cherry condition.
In reality most of these projects end poorly because the skills were over rated and the time under estimated, or there is just not enough money, which kills the schedule and with it the enthusiasm.