Complexes of nickel (II) and iron (III) are easily synthetized using the symmetrical ligand 1,5-bis(1-(pyridin-2-yl)ethylidene)carbonohydrazide) (H2L) and metal nitrate salts. Square [2x2] grids structure of one tetranuclear iron and one tetranuclear nickel complex were isolated. X ray diffraction analysis reveals that the crystal structures of the two complexes are similar. The asymmetric unit of each complex consists of four cationic ligand molecules and four metal ions. Each ligand acts in its monodeprotonated form through five coordination sites such as two pyridine nitrogen atoms, two azomethine nitrogen atoms and one oxygen atom. Each of the four ligand molecules acts as a bridge between two metal ions yielding a square 2 x 2 grid structure. Each of the metal ion is hexacoordinated and is situated in a N4O2 core and the environment is best described as a severely distorted square bipyramidal geometry. Electrochemical studies show two electrons process for complex 1 and one electron process for complex 2. Variable temperature magnetic study shows that antiferromagnetic coupling is stronger in the nickel(II) than in the iron(II) complex. Perfect correlation between the magnetic properties and the crystallographic data are observed in both complexes.