Metal complexes with a [n × n] gridlike structure are discussed as attractive building blocks for various materials chemistry applications in molecular nanotechnology and electronics, which often rely on the grids' magnetic and redox properties. Most of the known metallogrids are homometallic, though heterometallic systems that comprise two or more different metals promise higher level functionalities. However, heterometallic [n × n] grids are relatively rare, mostly because of the more challenging synthetic strategies. To that end a new heterometallic [2 × 2] grid complex [L 4 Ru 2 Co 2 ](BF 4 ) 4 (2) based on a known pyrazolate-bridged bis(tridentate) compartmental N-donor ligand [L] − is presented in this work, along with its doubly oxidized congener [L 4 Ru 2 Co 2 ](BF 4 ) 6 (3). In order to prevent scrambling of the different metal ions, a stepwise synthetic approach was implemented in which an inert Ru II "corner complex" [(HL) 2 Ru](BF 4 ) 2 (1) was isolated first, followed by addition of the more labile Co II . This exclusively yields the desired [L 4 Ru 2 Co 2 ] 4+ with anti-topology, viz., with the Ru II and Co II ions situated at opposite corners of the [2 × 2] grid, as confirmed by single crystal X-ray diffraction. 2 can be sequentially oxidized four times, first at the Co vertices and then at the Ru vertices. 1 H NMR spectroscopy as well as ESI mass spectrometry evidenced integrity of the [L 4 Ru 2 Co 2 ] 4+/6+ grids in solution. Structural and magnetic analyses revealed that paramagnetic 2 features LS-Ru II and HS-Co II ions (LS = low-spin, HS = high-spin) whereas LS-Ru II and LS-Co III ions are present in diamagnetic 3. The LS-Ru II ions in 2 serve to magnetically isolate the HS-Co II whose coordination geometry is strongly distorted from octahedral. A large and negative axial zero-field splitting value (D = −64 cm −1 ) for the local S = 3/2 ions is shown to lead to single molecule magnetic (SMM) properties characterized by a barrier to spin inversion of U eff = 8.8 cm −1 and a single relaxation process with τ o = 3.1 × 10 −5 s. Transition metal [2 × 2] grid complexes showing SMM behavior are extremely rare, and this is the first heterometallic 3d/4d grid system featuring such a magnetic signature.