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The process of 3-photon down conversion 3 omega -> omega + omega + omega in an optical cavity is analyzed theoretically. A classical feature of this system is a first-order transition of the fundamental mode above a threshold 3omega pump power. We calculate the quantum properties of the steady state both using quantum trajectory simulations, and by perturbation expansion of the density operator. A nongaussian Wigner function exhibiting a threefold symmetry is found. Above threshold the Wigner function displays separate peaks among which tunneling occurs.