Dissipation can usually induce detrimental decoherence in a quantum system. However, engineered dissipation can be used to prepare and stabilize coherent quantum many-body states. Here, we show that, by engineering dissipators containing photon pair operators, one can stabilize an exotic dark state, which is a condensate of photon pairs with a phase-nematic order. In this system, the usual superfluid order parameter, i.e., single-photon correlation, is absent, while the photon pair correlation exhibits long-range order. Although the dark state is not unique due to multiple parity sectors, we devise an additional type of dissipators to stabilize the dark state in a particular parity sector via a diffusive annihilation process which obeys Glauber dynamics in an Ising model. Furthermore, we propose an implementation of these photon pair dissipators in circuit-QED architecture.