[2] Lundey is low lying and grassy with an area of approximately 6.3 hectares (0.024 sq mi).
The island is only accessible by boat and lies approximately 9 kilometres (5.6 mi) from the nearest harbor in the town of Sauðárkrókur.
Though uninhabited, there is one standing structure on Lundey and viewed from above the island shows evidence of historically collapsed buildings.
Arctic Skua and Northern Fulmar, are common around Lundey during the Summer in addition to a nesting population of over 20,000 pairs of Atlantic Puffins.
The sizable population makes up about 1% of Iceland's total puffin count and is considered an internationally important seabird settlement.