How much do '1,500 total hours with 500 multi crew hours' cost in Europe?
You get to the 1500 hours by working in a flying job once you have your comm/group 1 IFR, which is where the 62k gets you.  Even if you wanted to spend a decade renting airplanes to get the time in, for the 500 multi-crew part you have no choice but to find a flying job since there is no other way to get those hours unless you are rich enough to afford your own multi-crew airplane.

The course gets you to a minimum employable level of flying hours (maybe 250-300 or so - hard to see 60k getting your any farther than that) and with the EASA ATPLs written, which allows you to copilot multi-crew aircraft as a greenhorn 300 hr copilot (normally you get a "multi-crew" license, which is a trimmed down version of the ATPL for low time pilots to serve on 2 pilot a/c) without having to write the exams again when you get the time in (that's the "frozen" part).  Most jurisdictions will "freeze" your exam validity for 3 years. 

The "fast track" bit just means they cram the whole thing into one year.  That would be a pretty intense course, jamming 2-300 hours into 12 months with the ATPL ground school thrown in as well.