Supramolecular one-step self-assembly of dimanganese decacarbonyl, diaryl diselenide, and linear dipyridyl ligands (L = pyrazine (pz), 4,4'-bipyridine (bpy), and trans-1,2-bis(4-pyridyl)ethylene (bpe)) has resulted in the formation of selenolato-bridged manganese(I)-based metallorectangles. The synthesis of tetranuclear Mn(I)-based metallorectangles [{(CO)3Mn(μ-SeR)2Mn(CO)3}2(μ-L)2] (1-6) was facilitated by the oxidative addition of diaryl diselenide to dimanganese decacarbonyl with the simultaneous coordination of linear bidentate pyridyl linker in an orthogonal fashion. Formation of metallorectangles 1-6 was ascertained using IR, UV-vis, NMR spectroscopic techniques, and elemental analyses. The molecular mass of compounds 2, 4, and 6 were determined by ESI-mass spectrometry. Solid-state structural elucidation of 2, 3, and 6 by single-crystal X-ray diffraction methods revealed a rectangular framework wherein selenolato-bridges and pyridyl ligands define the shorter and longer edges, respectively. Also, the guest binding capability of metallorectangles 3 and 5 with different aromatic guests was studied using UV-vis absorption and emission spectrophotometric titration methods that affirmed strong host-guest binding interactions. The formation of the host-guest complex between metallorectangle 3 and pyrene has been explicitly corroborated by the single-crystal X-ray structure of 3•pyrene. Moreover, select metallorectangles 1-4 and 6 were studied to explore their anticancer activity, while CO-releasing ability of metallorectangle 2 was further appraised using equine heart myoglobin assay.