Your description suggests you're using a Letter merge instead of a Directory merge. Plus your field construction is missing the code that actually inserts the page break. It should be:
{QUOTE{IF{MERGESEQ}= 1 {SET Key ""}}"{IF{MERGEFIELD Table}<> {REF Key} "{IF{MERGESEQ}> 1 {QUOTE 12}}Table {MERGEFIELD Table}{SET Key {MERGEFIELD Table}}¶
" }{MERGEFIELD First_} {MERGEFIELD Last} {MERGEFIELD Email}¶
{MERGEFIELD Street} {MERGEFIELD Phone}¶
{MERGEFIELD City_State}¶
"}


where the ¶ is a real paragraph/line break.

__________________
Cheers,
Paul Edstein
[Fmr MS MVP - Word]

Paul,

Thank you for such a quick reply! That worked perfectly.