This memory is now the least recently used in the L1 cache, despite being freed by the allocator, meaning it probably isn't being used again.
If it was freed after already being removed from the L1 cache, then you also need to evict other L1 cache contents and wait for it to be read into L1 so you can write to it.
128 cycles is a generous estimate, and ignores the costs to the rest of the program.