That looks like a pretty wicked grain structure, but I'm not quite sure what what it would be like to break the unbreakable.
I assume the part with the nut can just be knocked out towards the nut... hopefully. Then once off you can try to salvage the nut.
That is an interesting method to use a short sleeve between the base plate weld and the pivot point which effectively isolates the heat affected zone.
Would rounding the corners slightly on that short sleeve help reduce the single point stress riser?
A good machinist should be able to build the part from scratch. Basically sizing and threading a rod. And then get it welded on. I'd do it all in the machine shop.
I'd be tempted to go with steel that wasn't the original steel that failed.