Coherent condensate states of particles obeying either Bose or Fermi statistics are in the focus of interest in modern physics. Here we report on condensation of collective excitations with Bose statistics, cyclotron magnetoexcitons, in a high-mobility two-dimensional electron system in a magnetic field. At low temperatures, the dense non-equilibrium ensemble of long-lived triplet magnetoexcitons exhibits both a drastic reduction in the viscosity and a steep enhancement in the response to the external electromagnetic field. The observed effects are related to formation of a super-absorbing state interacting coherently with the electromagnetic field. Simultaneously, the electrons below the Fermi level form a super-emitting state. The effects are explicable from the viewpoint of a coherent condensate phase in a non-equilibrium system of two-dimensional fermions with a fully quantized energy spectrum. The condensation occurs in the space of vectors of magnetic translations, a property providing a completely new landscape for future physical investigations.